Cambiar Investors LLC Lowers Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Cambiar Investors LLC trimmed its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,067 shares of the electronics maker's stock after selling 12,933 shares during the quarter. Cambiar Investors LLC owned approximately 0.13% of Dolby Laboratories worth $9,690,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp raised 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 buying an additional 163 shares during the period. Nisa Investment Advisors LLC raised 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 buying an additional 301 shares during the period. Mather Group LLC. raised its stake in shares of Dolby Laboratories by 36.8% during 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. First Horizon Advisors Inc. raised its stake in shares of Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock worth $60,000 after buying an additional 146 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock worth $61,000 after buying an additional 525 shares during the period. 58.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DLB shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com downgraded 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 price objective on shares of Dolby Laboratories in a research note on Thursday.

Dolby Laboratories Stock Down 0.7 %

Shares of DLB traded down $0.56 during midday trading on Friday, reaching $83.72. The company had a trading volume of 440,257 shares, compared to its average volume of 466,932. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The stock has a market cap of $7.99 billion, a PE ratio of 30.78 and a beta of 0.98. The firm has a 50 day simple moving average of $80.26 and a 200-day simple moving average of $76.09.

Dolby Laboratories Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Peter C. Gotcher sold 6,079 shares of the stock in a transaction on Thursday, November 21st. The stock was 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 in the company, valued at approximately $2,968,343.28. This represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the transaction, the chief accounting officer now owns 24,364 shares of the company's stock, valued at approximately $1,953,505.52. This represents a 30.12 % 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 in the last three months. 38.39% of the stock is currently owned by 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.