Atria Investments Inc Has $354,000 Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Atria Investments Inc reduced its position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 85.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,620 shares of the electronics maker's stock after selling 27,312 shares during the period. Atria Investments Inc's holdings in Dolby Laboratories were worth $354,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in Dolby Laboratories by 398.8% during the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker's stock worth $35,000 after purchasing an additional 331 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Dolby Laboratories in the 2nd quarter valued at about $37,000. GAMMA Investing LLC boosted its position in shares of Dolby Laboratories by 64.6% during the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker's stock worth $39,000 after buying an additional 192 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Dolby Laboratories by 192.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker's stock worth $46,000 after buying an additional 379 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Dolby Laboratories in the 2nd quarter valued at approximately $146,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DLB has been the topic of a number of research analyst reports. Barrington Research reissued an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Wednesday. StockNews.com raised shares of Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a research note on Monday. Finally, Rosenblatt Securities increased their price target on Dolby Laboratories from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday.

Dolby Laboratories Stock Up 0.4 %

Shares of DLB traded up $0.32 during trading hours on Friday, reaching $80.57. The company's stock had a trading volume of 584,161 shares, compared to its average volume of 406,484. The company has a 50 day moving average of $74.33 and a two-hundred day moving average of $76.07. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 29.73 and a beta of 0.98. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $90.06.

Dolby Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.64%. This is an increase from Dolby Laboratories's previous quarterly dividend of $0.30. Dolby Laboratories's dividend payout ratio (DPR) is currently 44.28%.

Dolby Laboratories announced that its board has authorized a stock buyback program on Wednesday, August 7th that permits the company to repurchase $350.00 million in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Dolby Laboratories

In other news, Director Peter C. Gotcher sold 6,079 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the sale, the director now owns 37,593 shares in the company, valued at approximately $2,968,343.28. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 28,512 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the transaction, the chief executive officer now owns 83,721 shares in the company, valued at approximately $6,205,400.52. The trade was a 25.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 39.54% of the company's stock.

About Dolby Laboratories

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.