Bryce Point Capital LLC Buys New Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Bryce Point Capital LLC acquired a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,386 shares of the electronics maker's stock, valued at approximately $1,670,000.

Several other large investors also recently added to or reduced their stakes in DLB. Fifth Third Bancorp raised its stake in shares of Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 163 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 301 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after buying an additional 142 shares during the period. Headlands Technologies LLC bought a new position in shares of Dolby Laboratories during the 4th quarter worth $57,000. Finally, GAMMA Investing LLC increased its stake in shares of Dolby Laboratories by 207.5% during 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 during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the sale, the chief accounting officer now directly owns 29,758 shares in the company, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the business's 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 sale, the executive vice president now directly owns 62,397 shares in the company, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is currently owned by corporate insiders.

Dolby Laboratories Stock Performance

DLB traded down $3.26 on Monday, hitting $69.23. The company had a trading volume of 225,123 shares, compared to its average volume of 492,450. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 25.45 and a beta of 0.94. The stock has a fifty day moving average price of $82.03 and a 200-day moving average price of $78.56. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories's dividend payout ratio (DPR) is presently 48.53%.

Analysts Set New Price Targets

A number of analysts recently weighed in on DLB shares. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report 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.

Dolby Laboratories 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.