SG Americas Securities LLC Acquires New Shares in Dolby Laboratories, Inc. (NYSE:DLB)

SG Americas Securities LLC purchased a new position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,361 shares of the electronics maker's stock, valued at approximately $3,543,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DLB. Harbor Capital Advisors Inc. raised its stake in Dolby Laboratories by 5.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker's stock worth $201,000 after buying an additional 136 shares during the period. First Horizon Advisors Inc. raised its position in shares of Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock worth $60,000 after purchasing an additional 146 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Dolby Laboratories by 3.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker's stock worth $411,000 after purchasing an additional 182 shares in the last quarter. Mitchell & Pahl Private Wealth LLC grew its position in Dolby Laboratories by 1.5% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 14,026 shares of the electronics maker's stock valued at $1,073,000 after purchasing an additional 209 shares during the period. Finally, Icon Wealth Advisors LLC increased its stake in Dolby Laboratories by 14.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 1,717 shares of the electronics maker's stock valued at $131,000 after purchasing an additional 211 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Stock Performance

DLB traded down $0.77 during mid-day trading on Friday, reaching $79.67. 495,823 shares of the stock were exchanged, compared to its average volume of 345,569. The company has a 50 day moving average price of $78.79 and a two-hundred day moving average price of $75.60. The stock has a market capitalization of $7.60 billion, a PE ratio of 29.40 and a beta of 0.98. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $85.84.

Dolby Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.66%. This is an increase from Dolby Laboratories's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, December 3rd. Dolby Laboratories's dividend payout ratio is presently 48.71%.

Insider Buying and Selling at Dolby Laboratories

In related news, EVP Mark Andrew Sherman sold 12,338 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total transaction of $963,351.04. Following the completion of the transaction, the executive vice president now owns 62,397 shares in the company, valued at approximately $4,871,957.76. This represents a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John D. Couling sold 50,000 shares of Dolby Laboratories stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 106,806 shares in the company, valued at approximately $8,548,752.24. This represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,917 shares of company stock worth $10,877,739. Insiders own 38.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DLB shares. StockNews.com raised shares of Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 4th. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday. Finally, Barrington Research reissued an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Wednesday, November 20th.

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.