Kayne Anderson Rudnick Investment Management LLC Has $11.70 Million Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Kayne Anderson Rudnick Investment Management LLC trimmed its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 28.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,743 shares of the electronics maker's stock after selling 58,909 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.16% of Dolby Laboratories worth $11,695,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Savant Capital LLC raised its position in shares of Dolby Laboratories by 2.0% during the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker's stock valued at $490,000 after buying an additional 125 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Dolby Laboratories by 0.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock valued at $1,525,000 after purchasing an additional 132 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Dolby Laboratories by 5.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker's stock worth $201,000 after purchasing an additional 136 shares during the period. Mather Group LLC. boosted its stake in Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after buying an additional 142 shares in the last quarter. Finally, Naples Global Advisors LLC raised its stake in shares of Dolby Laboratories by 0.4% in the 4th quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker's stock valued at $2,791,000 after buying an additional 160 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dolby Laboratories

In other news, CAO Ryan Nicholson sold 7,000 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares of the company's stock, valued at $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Todd Pendleton sold 18,121 shares of Dolby Laboratories stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the sale, the chief marketing officer now owns 37,290 shares of the company's stock, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,121 shares of company stock worth $5,501,324. Corporate insiders own 38.39% of the company's stock.

Dolby Laboratories Price Performance

Shares of DLB stock traded up $2.01 during trading hours on Thursday, hitting $75.81. 489,641 shares of the company's stock were exchanged, compared to its average volume of 452,193. The stock's 50-day moving average is $78.50 and its 200-day moving average is $78.22. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 27.87 and a beta of 0.94.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories's dividend payout ratio is presently 48.53%.

Wall Street Analysts Forecast Growth

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

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.