Fox Run Management L.L.C. Acquires 12,204 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Fox Run Management L.L.C. boosted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 339.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,796 shares of the electronics maker's stock after acquiring an additional 12,204 shares during the period. Fox Run Management L.L.C.'s holdings in Dolby Laboratories were worth $1,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in shares of Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after purchasing an additional 163 shares during the period. Nisa Investment Advisors LLC increased its holdings in Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after buying an additional 301 shares during the period. Mather Group LLC. raised its position 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 valued at $41,000 after buying an additional 142 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings 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 acquiring an additional 146 shares during the period. Finally, GAMMA Investing LLC increased its stake in Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after acquiring an additional 525 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CMO Todd Pendleton sold 18,121 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now directly owns 37,290 shares of the company's stock, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Andrew Sherman sold 40,000 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the sale, the executive vice president now owns 62,397 shares in the company, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,121 shares of company stock valued at $5,501,324 in the last ninety days. 38.39% of the stock is currently owned by insiders.

Dolby Laboratories Price Performance

DLB stock traded down $0.16 during midday trading on Thursday, reaching $81.58. 331,926 shares of the stock were exchanged, compared to its average volume of 420,371. The stock has a market capitalization of $7.79 billion, a PE ratio of 29.99 and a beta of 1.01. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The company has a fifty day moving average price of $82.27 and a 200 day moving average price of $78.10.

Dolby Laboratories Dividend Announcement

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

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.