Proficio Capital Partners LLC Invests $1.04 Million in Dolby Laboratories, Inc. (NYSE:DLB)

Proficio Capital Partners LLC bought a new position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 13,355 shares of the electronics maker's stock, valued at approximately $1,043,000.

Several other hedge funds have also bought and sold shares of DLB. Bank of New York Mellon Corp lifted its stake in shares of Dolby Laboratories by 64.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock valued at $376,948,000 after buying an additional 1,887,518 shares in the last quarter. State Street Corp raised its holdings in shares of Dolby Laboratories by 1.5% in the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker's stock worth $147,824,000 after acquiring an additional 29,289 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Dolby Laboratories by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker's stock worth $117,767,000 after acquiring an additional 63,293 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Dolby Laboratories by 4.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker's stock valued at $112,209,000 after acquiring an additional 63,589 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its stake in Dolby Laboratories by 0.9% during the 4th quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker's stock valued at $84,715,000 after purchasing an additional 9,624 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

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Dolby Laboratories Stock Performance

NYSE DLB traded down $0.06 on Tuesday, hitting $81.56. The stock had a trading volume of 261,445 shares, compared to its average volume of 420,752. The firm has a 50-day moving average of $82.22 and a 200-day moving average of $77.98. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 29.99 and a beta of 1.01. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66.

Dolby Laboratories Dividend Announcement

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

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction 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 directly owns 29,758 shares in the company, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total value of $3,395,200.00. Following the sale, the executive vice president now directly owns 62,397 shares in the company, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,121 shares of company stock worth $5,501,324 over the last 90 days. 38.39% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on DLB. StockNews.com lowered Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. Rosenblatt Securities restated a "buy" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, February 13th.

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.