Wells Fargo & Company MN Has $12.06 Million Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Wells Fargo & Company MN reduced its position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,412 shares of the electronics maker's stock after selling 14,561 shares during the quarter. Wells Fargo & Company MN owned 0.16% of Dolby Laboratories worth $12,060,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Savant Capital LLC increased its stake in shares of Dolby Laboratories by 2.0% during the 4th quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker's stock worth $490,000 after purchasing an additional 125 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Dolby Laboratories by 0.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock worth $1,525,000 after purchasing an additional 132 shares during the period. Harbor Capital Advisors Inc. increased its position in Dolby Laboratories by 5.6% during the fourth 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 last quarter. Mather Group LLC. lifted its position 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. Finally, Naples Global Advisors LLC boosted its stake in shares of Dolby Laboratories by 0.4% during the 4th quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker's stock worth $2,791,000 after acquiring an additional 160 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DLB. Barrington Research reaffirmed an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, February 13th. Rosenblatt Securities reissued a "buy" rating and issued 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 Stock Performance

Shares of NYSE DLB traded down $0.19 during trading hours on Friday, reaching $71.94. 302,202 shares of the stock were exchanged, compared to its average volume of 450,195. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 26.45 and a beta of 0.94. The stock's fifty day simple moving average is $79.33 and its 200 day simple moving average is $78.32. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories's payout ratio is 48.53%.

Insider Transactions at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Todd Pendleton sold 18,121 shares of the business's 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is currently owned by corporate insiders.

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.