Exchange Traded Concepts LLC Sells 3,980 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Exchange Traded Concepts LLC lowered its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 22.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,526 shares of the electronics maker's stock after selling 3,980 shares during the period. Exchange Traded Concepts LLC's holdings in Dolby Laboratories were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of DLB. Geode Capital Management LLC boosted its stake in Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker's stock worth $117,767,000 after acquiring an additional 63,293 shares during the last quarter. Lord Abbett & CO. LLC boosted 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 purchasing an additional 15,546 shares in the last quarter. Barclays PLC grew its holdings in shares of Dolby Laboratories by 80.5% in the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker's stock valued at $2,544,000 after buying an additional 14,825 shares during the period. Boston Trust Walden Corp increased its position in shares of Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock valued at $82,276,000 after buying an additional 698,283 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Dolby Laboratories during the 3rd quarter worth $3,031,000. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Stock Performance

NYSE DLB traded down $3.69 on Friday, reaching $83.63. The company had a trading volume of 744,108 shares, compared to its average volume of 405,915. The company's fifty day moving average is $79.35 and its 200-day moving average is $75.73. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 30.75 and a beta of 0.98. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.58%. Dolby Laboratories's payout ratio is presently 48.53%.

Insider Activity

In other Dolby Laboratories news, CAO Ryan Nicholson sold 10,500 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the sale, the chief accounting officer now owns 24,364 shares in the company, valued at $1,953,505.52. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John D. Couling sold 50,000 shares of Dolby Laboratories stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $80.04, for a total value of $4,002,000.00. Following the transaction, the senior vice president now owns 106,806 shares of the company's stock, valued at $8,548,752.24. This represents a 31.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 135,917 shares of company stock worth $10,877,739 over the last ninety days. Insiders own 38.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DLB shares. Rosenblatt Securities reissued a "buy" rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday. StockNews.com lowered Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday. Finally, Barrington Research reissued an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Monday, January 27th.

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.