20,000 Shares in Dolby Laboratories, Inc. (NYSE:DLB) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,000 shares of the electronics maker's stock, valued at approximately $1,562,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp grew its position in Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after buying an additional 163 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 301 shares in the last quarter. Mather Group LLC. increased its stake in shares of 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 acquiring an additional 142 shares during the period. GAMMA Investing LLC raised its holdings 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. Finally, Wealthfront Advisers LLC acquired a new stake in Dolby Laboratories in the fourth quarter valued at about $94,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Dolby Laboratories

In other news, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the sale, the chief accounting officer now directly owns 29,758 shares in the company, valued at $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the transaction, the executive vice president now owns 62,397 shares of the company's stock, valued at $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. 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.

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Analyst Upgrades and Downgrades

DLB has been the subject of a number of analyst reports. Barrington Research reissued an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, February 13th. Rosenblatt Securities reissued a "buy" rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, StockNews.com cut shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Dolby Laboratories Stock Up 0.8 %

Shares of DLB traded up $0.62 on Wednesday, reaching $81.25. The stock had a trading volume of 321,868 shares, compared to its average volume of 442,125. The firm has a 50-day moving average of $82.22 and a 200 day moving average of $78.47. The firm has a market capitalization of $7.75 billion, a PE ratio of 29.87 and a beta of 1.01. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories's dividend payout ratio is currently 48.53%.

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.