Holocene Advisors LP Increases Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Holocene Advisors LP increased its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 70.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,351 shares of the electronics maker's stock after buying an additional 26,690 shares during the quarter. Holocene Advisors LP owned approximately 0.07% of Dolby Laboratories worth $4,925,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. LRI Investments LLC raised its stake in Dolby Laboratories by 6.0% in the 2nd quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker's stock valued at $182,000 after acquiring an additional 130 shares during the period. First Horizon Advisors Inc. raised its stake in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock valued at $60,000 after acquiring an additional 146 shares during the period. Signaturefd LLC raised its stake in Dolby Laboratories by 5.1% in the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker's stock valued at $251,000 after acquiring an additional 153 shares during the period. Mitchell & Pahl Private Wealth LLC raised its stake in Dolby Laboratories by 1.3% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker's stock valued at $1,095,000 after acquiring an additional 174 shares during the period. Finally, Glenmede Trust Co. NA increased its position in Dolby Laboratories by 3.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker's stock worth $411,000 after buying an additional 182 shares during the period. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Trading Down 1.4 %

NYSE DLB traded down $1.15 on Thursday, hitting $79.32. 463,959 shares of the company's stock were exchanged, compared to its average volume of 410,312. The stock has a 50-day moving average of $75.36 and a 200-day moving average of $75.83. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 29.69 and a beta of 0.98.

Dolby Laboratories declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 7th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Dolby Laboratories Increases Dividend

The business 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 of this dividend is Tuesday, December 3rd. This is an increase from Dolby Laboratories's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.66%. Dolby Laboratories's dividend payout ratio is 48.71%.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the 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 completion of the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at approximately $6,205,400.52. This trade represents a 25.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John D. Couling sold 7,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the sale, the senior vice president now owns 106,806 shares of the company's stock, valued at approximately $8,597,883. The trade was a 6.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,091 shares of company stock worth $12,027,697. Corporate insiders own 39.54% of the company's stock.

Wall Street Analyst Weigh In

DLB has been the topic of several recent research reports. StockNews.com upgraded Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Rosenblatt Securities boosted their price target on Dolby Laboratories from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Finally, Barrington Research reiterated an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Wednesday, November 20th.

Dolby Laboratories Company 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.