Pinebridge Investments L.P. Raises Position in Dolby Laboratories, Inc. (NYSE:DLB)

Pinebridge Investments L.P. lifted its position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 162.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,568 shares of the electronics maker's stock after acquiring an additional 36,867 shares during the quarter. Pinebridge Investments L.P. owned 0.06% of Dolby Laboratories worth $4,652,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of DLB. Fifth Third Bancorp lifted its holdings 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 valued at $28,000 after purchasing an additional 163 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake 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 in the last quarter. Mather Group LLC. grew its holdings in Dolby Laboratories by 36.8% during 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 during the last quarter. Headlands Technologies LLC purchased a new position in Dolby Laboratories during the fourth quarter worth $57,000. Finally, GAMMA Investing LLC raised its holdings in shares of Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock worth $61,000 after acquiring an additional 525 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Trading Up 0.6 %

DLB traded up $0.48 during midday trading on Tuesday, hitting $76.50. The company's stock had a trading volume of 349,874 shares, compared to its average volume of 452,927. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The firm has a 50-day moving average price of $78.18 and a two-hundred day moving average price of $78.31. The firm has a market cap of $7.30 billion, a P/E ratio of 28.13 and a beta of 0.94.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors 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 dividend on an annualized basis and a yield of 1.73%. Dolby Laboratories's payout ratio is 48.53%.

Analysts Set New Price Targets

DLB has been the topic of several analyst reports. Barrington Research reaffirmed an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, February 13th. StockNews.com lowered 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 issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th.

Insider Buying and Selling

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

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.