Janney Montgomery Scott LLC Sells 3,168 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Janney Montgomery Scott LLC trimmed its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 23.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,188 shares of the electronics maker's stock after selling 3,168 shares during the quarter. Janney Montgomery Scott LLC's holdings in Dolby Laboratories were worth $796,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DLB. Millennium Management LLC increased its stake in shares of Dolby Laboratories by 177.6% during the second quarter. Millennium Management LLC now owns 48,415 shares of the electronics maker's stock worth $3,836,000 after purchasing an additional 30,977 shares during the period. Cubist Systematic Strategies LLC bought a new position in Dolby Laboratories during the 2nd quarter worth $146,000. Handelsbanken Fonder AB lifted its holdings in shares of Dolby Laboratories by 66.1% during the third quarter. Handelsbanken Fonder AB now owns 21,616 shares of the electronics maker's stock worth $1,654,000 after buying an additional 8,600 shares in the last quarter. CWM LLC boosted its position in shares of Dolby Laboratories by 27.9% in the third quarter. CWM LLC now owns 3,978 shares of the electronics maker's stock valued at $304,000 after acquiring an additional 868 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Dolby Laboratories by 12.6% in the third quarter. Exchange Traded Concepts LLC now owns 17,506 shares of the electronics maker's stock valued at $1,340,000 after acquiring an additional 1,957 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Ryan Nicholson sold 10,500 shares of the firm's stock in a transaction dated 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 directly owns 24,364 shares of the company's stock, valued at $1,953,505.52. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP John D. Couling sold 7,000 shares of the business's 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 transaction, the senior vice president now directly owns 106,806 shares of the company's stock, valued at approximately $8,597,883. The trade was a 6.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,917 shares of company stock worth $14,861,429. Corporate insiders own 38.39% of the company's stock.

Dolby Laboratories Price Performance

DLB stock traded up $0.64 during midday trading on Monday, reaching $84.50. The company had a trading volume of 415,438 shares, compared to its average volume of 480,167. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The stock has a 50 day moving average price of $79.95 and a 200-day moving average price of $75.91. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 31.07 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, February 11th. Dolby Laboratories's dividend payout ratio (DPR) is presently 48.53%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. Barrington Research reiterated an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Monday, January 27th. Finally, StockNews.com downgraded Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st.

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.