Twin Tree Management LP Takes $662,000 Position in Dolby Laboratories, Inc. (NYSE:DLB)

Twin Tree Management LP acquired 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 Securities and Exchange Commission (SEC). The institutional investor acquired 8,473 shares of the electronics maker's stock, valued at approximately $662,000.

Several other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in shares of Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 163 shares during the period. Nisa Investment Advisors LLC increased its stake in Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 301 shares during the period. Mather Group LLC. raised its holdings in shares of Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after buying an additional 142 shares during the last quarter. First Horizon Advisors Inc. boosted its stake 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 buying an additional 146 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock worth $61,000 after buying an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company's stock.

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Dolby Laboratories Stock Performance

DLB traded down $0.94 during trading on Friday, reaching $80.94. The company's stock had a trading volume of 1,830,444 shares, compared to its average volume of 419,929. The company's fifty day moving average price is $82.16 and its 200-day moving average price is $77.79. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 29.76 and a beta of 1.01.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories's payout ratio is 48.53%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 62,397 shares of the company's stock, valued at approximately $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is owned by company insiders.

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.