Dolby Laboratories, Inc. (NYSE:DLB) Shares Acquired by AlphaQuest LLC

AlphaQuest LLC lifted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 111.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,148 shares of the electronics maker's stock after buying an additional 3,235 shares during the quarter. AlphaQuest LLC's holdings in Dolby Laboratories were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Dolby Laboratories by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker's stock worth $117,767,000 after buying an additional 63,293 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Dolby Laboratories by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker's stock worth $21,771,000 after buying an additional 15,546 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Dolby Laboratories by 10,441,900.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker's stock worth $8,123,000 after buying an additional 104,419 shares in the last quarter. Barclays PLC boosted its holdings in Dolby Laboratories by 80.5% in the third quarter. Barclays PLC now owns 33,230 shares of the electronics maker's stock worth $2,544,000 after purchasing an additional 14,825 shares during the period. Finally, Algert Global LLC boosted its holdings in Dolby Laboratories by 52.0% in the third quarter. Algert Global LLC now owns 48,822 shares of the electronics maker's stock worth $3,736,000 after purchasing an additional 16,700 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.

Insider Activity

In related news, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the sale, the chief accounting officer now directly owns 29,758 shares in the company, valued at $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total transaction of $963,351.04. Following the sale, the executive vice president now owns 62,397 shares in the company, valued at approximately $4,871,957.76. This represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,459 shares of company stock valued at $6,464,675. 38.39% of the stock is currently owned by company insiders.

Dolby Laboratories Stock Performance

Shares of DLB opened at $81.27 on Thursday. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 29.88 and a beta of 1.01. The firm has a fifty day moving average of $81.57 and a 200-day moving average of $77.32.

Dolby Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on DLB shares. StockNews.com downgraded shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, February 13th.

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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.

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