3,155 Shares in Dolby Laboratories, Inc. (NYSE:DLB) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,155 shares of the electronics maker's stock, valued at approximately $246,000.

Several other hedge funds also recently modified their holdings of DLB. Creative Planning boosted its position in shares of Dolby Laboratories by 7.5% in the third quarter. Creative Planning now owns 4,094 shares of the electronics maker's stock valued at $313,000 after acquiring an additional 286 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Dolby Laboratories by 37.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,326 shares of the electronics maker's stock worth $408,000 after purchasing an additional 1,465 shares during the period. Harbor Capital Advisors Inc. lifted its position in Dolby Laboratories by 19.1% in the third quarter. Harbor Capital Advisors Inc. now owns 2,435 shares of the electronics maker's stock worth $186,000 after purchasing an additional 390 shares during the period. Van ECK Associates Corp lifted its position in Dolby Laboratories by 40.0% in the third quarter. Van ECK Associates Corp now owns 34,881 shares of the electronics maker's stock worth $2,535,000 after purchasing an additional 9,967 shares during the period. Finally, Equitable Trust Co. bought a new position in Dolby Laboratories in the third quarter worth $460,000. 58.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Dolby Laboratories

In other news, CMO Todd Pendleton sold 18,121 shares of the firm's stock in a transaction 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 completion of the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Ryan Nicholson sold 7,000 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the sale, the chief accounting officer now owns 29,758 shares of the company's stock, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,459 shares of company stock valued at $6,464,675. 38.39% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

DLB has been the subject of several research reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th. StockNews.com cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, February 13th.

Dolby Laboratories Stock Performance

Shares of NYSE DLB traded up $0.87 during midday trading on Friday, reaching $83.37. 651,790 shares of the company traded hands, compared to its average volume of 491,391. The firm has a market cap of $7.96 billion, a PE ratio of 30.65 and a beta of 1.01. The stock's 50-day simple moving average is $81.26 and its 200-day simple moving average is $77.01. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were issued 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 1.58%. Dolby Laboratories's payout ratio is presently 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.