Venturi Wealth Management LLC Boosts Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Venturi Wealth Management LLC raised its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 8,415.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,832 shares of the electronics maker's stock after purchasing an additional 3,787 shares during the period. Venturi Wealth Management LLC's holdings in Dolby Laboratories were worth $299,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. State of New Jersey Common Pension Fund D increased its stake in shares of Dolby Laboratories by 6.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,603 shares of the electronics maker's stock worth $2,312,000 after purchasing an additional 1,693 shares in the last quarter. Rhumbline Advisers grew its stake in Dolby Laboratories by 0.5% during the fourth quarter. Rhumbline Advisers now owns 250,121 shares of the electronics maker's stock valued at $19,534,000 after acquiring an additional 1,194 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in Dolby Laboratories during the fourth quarter valued at approximately $1,237,000. Naples Global Advisors LLC grew its stake in Dolby Laboratories by 0.4% during the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker's stock valued at $2,791,000 after acquiring an additional 160 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Dolby Laboratories by 10,441,900.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker's stock valued at $8,123,000 after acquiring an additional 104,419 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction that occurred on 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 transaction, the chief marketing officer now owns 37,290 shares in the company, valued at $3,123,037.50. This represents a 32.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Yeaman sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the completion of the sale, the chief executive officer now directly owns 83,721 shares of the company's stock, valued at $6,742,889.34. This represents a 37.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,959 shares of company stock worth $11,897,065 in the last quarter. Corporate insiders own 38.39% of the company's stock.

Dolby Laboratories Stock Down 1.1 %

Shares of NYSE:DLB traded down $0.90 during midday trading on Friday, reaching $81.42. The company's stock had a trading volume of 646,093 shares, compared to its average volume of 481,564. The firm has a 50 day moving average of $80.56 and a 200-day moving average of $76.25. The firm has a market capitalization of $7.77 billion, a P/E ratio of 29.94 and a beta of 0.98. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66.

Dolby Laboratories Dividend Announcement

The company 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 was Tuesday, February 11th. Dolby Laboratories's payout ratio is 48.53%.

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.