Nebula Research & Development LLC Decreases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Nebula Research & Development LLC trimmed its position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 38.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,531 shares of the electronics maker's stock after selling 7,727 shares during the period. Nebula Research & Development LLC's holdings in Dolby Laboratories were worth $979,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in DLB. Oberweis Asset Management Inc. purchased a new stake in shares of Dolby Laboratories in the 4th quarter valued at approximately $14,136,000. Voya Investment Management LLC grew its stake in shares of Dolby Laboratories by 157.3% during the fourth quarter. Voya Investment Management LLC now owns 20,539 shares of the electronics maker's stock worth $1,604,000 after purchasing an additional 12,558 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Dolby Laboratories by 10.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 3,448 shares of the electronics maker's stock valued at $269,000 after buying an additional 334 shares during the last quarter. Pinebridge Investments L.P. raised its stake in Dolby Laboratories by 162.4% in the fourth quarter. Pinebridge Investments L.P. now owns 59,568 shares of the electronics maker's stock valued at $4,652,000 after buying an additional 36,867 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Dolby Laboratories in the fourth quarter valued at $698,000. Hedge funds and other institutional investors own 58.56% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on DLB. StockNews.com downgraded Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, 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.

Insiders Place Their Bets

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction 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 transaction, the chief accounting officer now directly owns 29,758 shares in the company, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Todd Pendleton sold 18,121 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the sale, the chief marketing officer now directly owns 37,290 shares of the company's stock, valued at $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. Insiders have sold a total of 65,121 shares of company stock valued at $5,501,324 over the last quarter. Company insiders own 38.39% of the company's stock.

Dolby Laboratories Stock Performance

Shares of DLB stock opened at $75.79 on Friday. The stock's 50-day moving average is $78.32 and its two-hundred day moving average is $78.26. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 27.86 and a beta of 0.94.

Dolby Laboratories Announces Dividend

The company also recently declared 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. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.74%. Dolby Laboratories's dividend payout ratio is presently 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.

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