Victory Capital Management Inc. Purchases 7,710 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Victory Capital Management Inc. increased its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 52.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,375 shares of the electronics maker's stock after acquiring an additional 7,710 shares during the quarter. Victory Capital Management Inc.'s holdings in Dolby Laboratories were worth $1,747,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in shares of Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after purchasing an additional 163 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock worth $29,000 after buying an additional 301 shares during the period. Mather Group LLC. increased its stake in Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after buying an additional 142 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock valued at $60,000 after acquiring an additional 146 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after acquiring an additional 525 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

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

Dolby Laboratories Trading Down 1.1 %

Shares of NYSE:DLB traded down $0.94 during mid-day trading on Friday, reaching $80.94. The stock had a trading volume of 426,400 shares, compared to its average volume of 420,443. The business's 50 day moving average price is $82.07 and its 200 day moving average price is $77.72. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The company has a market cap of $7.72 billion, a P/E ratio of 29.76 and a beta of 1.01.

Dolby Laboratories Announces Dividend

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

Insider Activity

In related news, 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 owns 37,290 shares of the company's stock, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Andrew Sherman sold 40,000 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 62,397 shares in the company, valued at $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,121 shares of company stock worth $5,501,324. 38.39% of the stock is currently owned by insiders.

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.