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

Proficio Capital Partners LLC purchased a new stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,355 shares of the electronics maker's stock, valued at approximately $1,043,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Dolby Laboratories by 64.2% during the 4th 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 during the last quarter. State Street Corp grew its position in Dolby Laboratories by 1.5% during the third 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 period. Geode Capital Management LLC increased its stake in 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 acquiring an additional 63,293 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in shares of 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 worth $112,209,000 after purchasing an additional 63,589 shares during the period. Finally, Boston Trust Walden Corp lifted its stake in shares of Dolby Laboratories by 0.9% in 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 in the last quarter. Institutional investors and hedge funds own 58.56% of the company's stock.

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Dolby Laboratories Stock Performance

Shares of NYSE:DLB traded down $0.46 during mid-day trading on Monday, hitting $82.90. 30,503 shares of the company traded hands, compared to its average volume of 480,817. The firm has a market cap of $7.91 billion, a P/E ratio of 30.50 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. The firm's 50 day simple moving average is $81.35 and its 200 day simple moving average is $77.15.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders 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 dividend yield of 1.59%. Dolby Laboratories's dividend payout ratio is currently 48.53%.

Analysts Set New Price Targets

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

Insider Transactions at Dolby Laboratories

In related news, EVP Mark Andrew Sherman sold 40,000 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the transaction, the executive vice president now owns 62,397 shares in the company, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction dated Wednesday, February 19th. The shares were 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 $3,123,037.50. This represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,459 shares of company stock valued at $6,464,675. 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.