Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lessened its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 35.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,952 shares of the electronics maker's stock after selling 3,250 shares during the period. Bleakley Financial Group LLC's holdings in Dolby Laboratories were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Mather Group LLC. boosted its stake in 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 acquiring an additional 142 shares in the last quarter. Boston Trust Walden Corp boosted its stake in Dolby Laboratories by 0.9% in the fourth quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker's stock valued at $84,715,000 after acquiring an additional 9,624 shares in the last quarter. Willis Investment Counsel boosted its stake in Dolby Laboratories by 3.5% in the fourth quarter. Willis Investment Counsel now owns 6,157 shares of the electronics maker's stock valued at $481,000 after acquiring an additional 206 shares in the last quarter. Diversified Investment Strategies LLC boosted its stake in Dolby Laboratories by 0.3% in the fourth quarter. Diversified Investment Strategies LLC now owns 59,395 shares of the electronics maker's stock valued at $4,639,000 after acquiring an additional 195 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Dolby Laboratories by 211.8% in the fourth quarter. Pacer Advisors Inc. now owns 41,223 shares of the electronics maker's stock valued at $3,220,000 after acquiring an additional 28,001 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Insider Buying and Selling

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,758 shares of the company's stock, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Gotcher sold 6,079 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the completion of the transaction, the director now directly owns 37,593 shares of the company's stock, valued at approximately $2,968,343.28. This trade represents a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,917 shares of company stock valued at $14,861,429 over the last ninety days. Corporate insiders own 38.39% of the company's stock.

Dolby Laboratories Stock Down 0.7 %

NYSE DLB traded down $0.56 during trading hours on Friday, hitting $83.72. 440,257 shares of the stock were exchanged, compared to its average volume of 466,932. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 30.78 and a beta of 0.98. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The stock has a 50-day moving average of $80.26 and a 200 day moving average of $76.09.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.58%. Dolby Laboratories's dividend payout ratio is currently 48.53%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DLB. Barrington Research reiterated an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

About Dolby Laboratories

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.