ExodusPoint Capital Management LP Acquires Shares of 146,719 Dolby Laboratories, Inc. (NYSE:DLB)

ExodusPoint Capital Management LP purchased a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 146,719 shares of the electronics maker's stock, valued at approximately $11,459,000. ExodusPoint Capital Management LP owned 0.15% of Dolby Laboratories at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after buying an additional 163 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock worth $29,000 after purchasing an additional 301 shares during the period. Mather Group LLC. increased its holdings in 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 purchasing an additional 142 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Dolby Laboratories in the fourth quarter valued at approximately $57,000. Finally, GAMMA Investing LLC lifted its stake in Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock worth $61,000 after purchasing an additional 525 shares in the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Stock Down 3.0 %

NYSE DLB traded down $2.24 during trading hours on Thursday, hitting $72.12. 107,380 shares of the company were exchanged, compared to its average volume of 446,588. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 26.46 and a beta of 0.94. The company has a 50 day moving average of $80.92 and a two-hundred day moving average of $78.43. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid 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 1.83%. Dolby Laboratories's dividend payout ratio is currently 48.53%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of the firm's 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 sale, the chief marketing officer now owns 37,290 shares of the company's stock, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ryan Nicholson sold 7,000 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the transaction, the chief accounting officer now owns 29,758 shares of the company's stock, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,121 shares of company stock valued at $5,501,324. Insiders own 38.39% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.