Capstone Investment Advisors LLC Sells 12,294 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Capstone Investment Advisors LLC decreased its position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 67.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,984 shares of the electronics maker's stock after selling 12,294 shares during the quarter. Capstone Investment Advisors LLC's holdings in Dolby Laboratories were worth $458,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Northwest & Ethical Investments L.P. raised its stake in shares of Dolby Laboratories by 13.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 97,779 shares of the electronics maker's stock valued at $7,483,000 after purchasing an additional 11,850 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Dolby Laboratories by 14.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,519 shares of the electronics maker's stock worth $958,000 after purchasing an additional 1,596 shares in the last quarter. FORA Capital LLC increased its stake in Dolby Laboratories by 65.8% in the 3rd quarter. FORA Capital LLC now owns 14,104 shares of the electronics maker's stock worth $1,079,000 after purchasing an additional 5,595 shares in the last quarter. Clifford Capital Partners LLC grew its stake in Dolby Laboratories by 3,114.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker's stock valued at $20,707,000 after acquiring an additional 262,162 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its stake in Dolby Laboratories by 3.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker's stock valued at $411,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Insider Transactions at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total transaction of $841,890.00. Following the sale, the chief accounting officer now directly owns 24,364 shares in the company, valued at $1,953,505.52. This represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin J. Yeaman sold 28,512 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the completion of the transaction, the chief executive officer now owns 83,721 shares in the company, valued at $6,205,400.52. The trade was a 25.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,091 shares of company stock valued at $12,027,697. Corporate insiders own 39.54% of the company's stock.

Dolby Laboratories Stock Up 0.2 %

Dolby Laboratories stock traded up $0.12 during trading hours on Friday, hitting $78.32. The stock had a trading volume of 204,557 shares, compared to its average volume of 407,959. The company has a 50-day moving average of $74.99 and a two-hundred day moving average of $75.95. The company has a market cap of $7.47 billion, a PE ratio of 28.90 and a beta of 0.98. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $90.06.

Dolby Laboratories declared that its board has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd will be issued a $0.33 dividend. The ex-dividend date is Tuesday, December 3rd. This is a boost from Dolby Laboratories's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.69%. Dolby Laboratories's dividend payout ratio is presently 48.71%.

Analyst Ratings Changes

DLB has been the subject of several recent research reports. StockNews.com cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Barrington Research restated an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Wednesday, November 20th. Finally, Rosenblatt Securities boosted their price objective on Dolby Laboratories from $98.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th.

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.