Main Management ETF Advisors LLC Invests $831,000 in Dolby Laboratories, Inc. (NYSE:DLB)

Main Management ETF Advisors LLC acquired a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,864 shares of the electronics maker's stock, valued at approximately $831,000.

Several other institutional investors have also bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of Dolby Laboratories by 398.8% in the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker's stock valued at $35,000 after acquiring an additional 331 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Dolby Laboratories in the second quarter valued at $37,000. GAMMA Investing LLC raised its stake in shares of Dolby Laboratories by 64.6% in the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker's stock valued at $39,000 after acquiring an additional 192 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Dolby Laboratories by 192.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker's stock valued at $46,000 after acquiring an additional 379 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of Dolby Laboratories by 22.7% in the third 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. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Trading Down 0.2 %

Shares of NYSE:DLB traded down $0.17 during trading on Friday, reaching $79.15. The stock had a trading volume of 487,356 shares, compared to its average volume of 512,663. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $90.06. The company has a market capitalization of $7.55 billion, a P/E ratio of 29.21 and a beta of 0.98. The firm's 50-day simple moving average is $75.51 and its 200 day simple moving average is $75.79.

Dolby Laboratories Increases Dividend

The company 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 $0.33 dividend. This is a boost from Dolby Laboratories's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Tuesday, December 3rd. Dolby Laboratories's dividend payout ratio (DPR) is currently 48.71%.

Insider Buying and Selling

In other Dolby Laboratories news, CAO Ryan Nicholson sold 10,500 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total transaction of $841,890.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,364 shares of the company's stock, valued at approximately $1,953,505.52. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kevin J. Yeaman sold 50,000 shares of Dolby Laboratories stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the transaction, the chief executive officer now directly owns 83,721 shares of the company's stock, valued at approximately $6,742,889.34. This trade represents a 37.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,091 shares of company stock worth $12,027,697 in the last three months. Corporate insiders own 39.54% of the company's stock.

Analyst Upgrades and Downgrades

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

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.