Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC trimmed its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 71.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,845 shares of the electronics maker's stock after selling 22,214 shares during the quarter. Sanctuary Advisors LLC's holdings in Dolby Laboratories were worth $712,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DLB. State Street Corp increased 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 valued at $147,824,000 after acquiring an additional 29,289 shares during the period. Geode Capital Management LLC boosted its position 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 valued at $117,767,000 after purchasing an additional 63,293 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in Dolby Laboratories by 4.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker's stock valued at $112,209,000 after purchasing an additional 63,589 shares during the last quarter. Boston Trust Walden Corp grew its stake in Dolby Laboratories by 185.3% in the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock valued at $82,276,000 after purchasing an additional 698,283 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Dolby Laboratories by 3.5% in the second quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker's stock worth $80,041,000 after purchasing an additional 33,848 shares in the last quarter. Institutional investors own 58.56% of the company's stock.

Wall Street Analyst Weigh In

DLB has been the topic of a number of analyst reports. StockNews.com raised shares of Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, December 4th. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Wednesday, November 20th. Finally, Rosenblatt Securities increased their price objective on Dolby Laboratories from $98.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, November 20th.

Dolby Laboratories Stock Up 0.9 %

Shares of Dolby Laboratories stock traded up $0.66 during midday trading on Tuesday, hitting $78.28. The company had a trading volume of 120,507 shares, compared to its average volume of 418,918. The company has a fifty day simple moving average of $76.39 and a 200 day simple moving average of $75.64. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 28.89 and a beta of 0.98. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $87.12.

Dolby Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were issued a $0.33 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Dolby Laboratories's previous quarterly dividend of $0.30. Dolby Laboratories's dividend payout ratio (DPR) is currently 48.71%.

Insider Transactions at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 28,512 shares of the company's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the sale, the chief executive officer now directly owns 83,721 shares of the company's stock, valued at $6,205,400.52. This represents a 25.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John D. Couling sold 50,000 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the transaction, the senior vice president now directly owns 106,806 shares of the company's stock, valued at approximately $8,548,752.24. This trade represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,429 shares of company stock worth $12,991,048. Company insiders own 39.54% of the company's stock.

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.