Pacer Advisors Inc. Grows Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Pacer Advisors Inc. grew its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 211.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 41,223 shares of the electronics maker's stock after buying an additional 28,001 shares during the period. Pacer Advisors Inc.'s holdings in Dolby Laboratories were worth $3,220,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in DLB. State Street Corp raised its stake in Dolby Laboratories by 1.5% during the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker's stock valued at $147,824,000 after acquiring an additional 29,289 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Dolby Laboratories by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker's stock worth $117,767,000 after purchasing an additional 63,293 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Dolby Laboratories by 4.5% during 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 during the period. Boston Trust Walden Corp grew its position in Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock valued at $82,276,000 after buying an additional 698,283 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in Dolby Laboratories by 5.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker's stock valued at $21,771,000 after buying an additional 15,546 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.

Dolby Laboratories Trading Up 0.4 %

Shares of NYSE:DLB traded up $0.38 on Tuesday, reaching $84.52. 513,864 shares of the company were exchanged, compared to its average volume of 492,793. The company has a 50-day moving average of $79.51 and a 200-day moving average of $75.75. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 31.07 and a beta of 0.98. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.56%. Dolby Laboratories's payout ratio is currently 48.53%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Monday, January 27th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, StockNews.com downgraded Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday.

Insider Buying and Selling at Dolby Laboratories

In other news, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total value of $841,890.00. Following the sale, the chief accounting officer now directly owns 24,364 shares in the company, valued at $1,953,505.52. This represents a 30.12 % 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 12,338 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total value of $963,351.04. Following the transaction, the executive vice president now owns 62,397 shares of the company's stock, valued at $4,871,957.76. This represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 175,917 shares of company stock valued at $14,272,939. Corporate insiders own 38.39% of the company's stock.

Dolby Laboratories Company 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.