8,258 Shares in Dolby Laboratories, Inc. (NYSE:DLB) Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 8,258 shares of the electronics maker's stock, valued at approximately $645,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Wealthfront Advisers LLC acquired a new stake in Dolby Laboratories during the 4th quarter valued at approximately $94,000. Moran Wealth Management LLC raised its stake in Dolby Laboratories by 4.4% during the fourth quarter. Moran Wealth Management LLC now owns 9,184 shares of the electronics maker's stock worth $717,000 after buying an additional 390 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Dolby Laboratories by 16.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,516 shares of the electronics maker's stock valued at $1,134,000 after buying an additional 1,997 shares during the period. AlphaQuest LLC boosted its position in Dolby Laboratories by 111.1% during the fourth quarter. AlphaQuest LLC now owns 6,148 shares of the electronics maker's stock valued at $480,000 after acquiring an additional 3,235 shares during the last quarter. Finally, Amundi boosted its position in Dolby Laboratories by 44.6% during the fourth quarter. Amundi now owns 4,594 shares of the electronics maker's stock valued at $354,000 after acquiring an additional 1,417 shares during the last quarter. Institutional investors own 58.56% of the company's stock.

Insider Buying and Selling

In other news, CMO Todd Pendleton sold 18,121 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the transaction, the chief marketing officer now owns 37,290 shares in the company, valued at $3,123,037.50. The trade was a 32.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were 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. The trade was a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,121 shares of company stock worth $5,501,324. 38.39% of the stock is owned by insiders.

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Dolby Laboratories Trading Up 0.2 %

Shares of DLB traded up $0.17 on Wednesday, reaching $81.67. The company's stock had a trading volume of 263,951 shares, compared to its average volume of 508,164. The firm has a fifty day moving average of $82.26 and a 200-day moving average of $78.07. The stock has a market capitalization of $7.79 billion, a PE ratio of 30.03 and a beta of 1.01. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were issued a $0.33 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.62%. Dolby Laboratories's dividend payout ratio is currently 48.53%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barrington Research reissued an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th. StockNews.com downgraded shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th.

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.