Magnetar Financial LLC Invests $290,000 in Dolby Laboratories, Inc. (NYSE:DLB)

Magnetar Financial LLC bought a new position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,714 shares of the electronics maker's stock, valued at approximately $290,000.

A number of other hedge funds have also made changes to their positions in DLB. Bank of New York Mellon Corp increased its holdings in shares of Dolby Laboratories by 64.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock worth $376,948,000 after buying an additional 1,887,518 shares in the last quarter. Clifford Capital Partners LLC increased its holdings in Dolby Laboratories by 3,114.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker's stock valued at $20,707,000 after purchasing an additional 262,162 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Dolby Laboratories by 10,441,900.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker's stock worth $8,123,000 after purchasing an additional 104,419 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Dolby Laboratories by 4.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker's stock worth $112,209,000 after purchasing an additional 63,589 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Dolby Laboratories by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker's stock valued at $117,767,000 after buying an additional 63,293 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

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Dolby Laboratories Price Performance

Shares of DLB stock traded down $0.16 during trading hours on Thursday, reaching $81.58. The company had a trading volume of 331,926 shares, compared to its average volume of 420,384. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The company has a 50 day moving average of $82.27 and a 200 day moving average of $78.10. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of 29.99 and a beta of 1.01.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.62%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories's payout ratio is 48.53%.

Analyst Ratings Changes

A number of brokerages have commented on DLB. Barrington Research reissued an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, February 13th. 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. Finally, StockNews.com cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of the business's 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 transaction, the chief marketing officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ryan Nicholson sold 7,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 29,758 shares in the company, valued at $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,121 shares of company stock worth $5,501,324. 38.39% of the stock is currently owned by company insiders.

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.