Aigen Investment Management LP Sells 11,723 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Aigen Investment Management LP reduced its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 59.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,917 shares of the electronics maker's stock after selling 11,723 shares during the quarter. Aigen Investment Management LP's holdings in Dolby Laboratories were worth $618,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after acquiring an additional 163 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock worth $29,000 after acquiring an additional 301 shares in the last quarter. Mather Group LLC. grew its stake in shares of Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after buying an additional 142 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after buying an additional 525 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock valued at $60,000 after buying an additional 146 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

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Dolby Laboratories Price Performance

DLB stock traded up $0.87 during midday trading on Friday, reaching $83.37. 651,790 shares of the company were exchanged, compared to its average volume of 491,391. The business has a 50-day moving average price of $81.35 and a two-hundred day moving average price of $77.15. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of 30.65 and a beta of 1.01.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.58%. Dolby Laboratories's dividend payout ratio (DPR) is 48.53%.

Wall Street Analysts Forecast Growth

DLB has been the subject of several analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com cut shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st. Finally, Barrington Research reissued an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the transaction, the executive vice president now directly owns 62,397 shares of the company's stock, valued at $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the sale, the chief accounting officer now directly owns 29,758 shares of the company's stock, valued at $2,501,755.06. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,459 shares of company stock valued at $6,464,675 over the last ninety days. 38.39% of the stock is currently owned by company insiders.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.