Magnetar Financial LLC Makes New $290,000 Investment in Dolby Laboratories, Inc. (NYSE:DLB)

Magnetar Financial LLC purchased a new stake in Dolby Laboratories, Inc. (NYSE:DLB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,714 shares of the electronics maker’s stock, valued at approximately $290,000.

Several other large investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Dolby Laboratories by 64.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock worth $376,948,000 after purchasing an additional 1,887,518 shares during the period. State Street Corp boosted its position in shares of Dolby Laboratories by 1.5% during the third quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock worth $147,824,000 after buying an additional 29,289 shares during the period. Geode Capital Management LLC grew its holdings in shares of Dolby Laboratories by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock worth $117,767,000 after buying an additional 63,293 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in Dolby Laboratories by 4.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after buying an additional 63,589 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its stake in Dolby Laboratories by 0.9% in the 4th quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker’s stock valued at $84,715,000 after acquiring an additional 9,624 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Barrington Research restated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Insider Buying and Selling at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the transaction, the chief accounting officer now directly owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at $5,296,257.36. This represents a 39.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock worth $5,501,324 over the last quarter. 38.39% of the stock is currently owned by insiders.

Dolby Laboratories Stock Down 1.1 %

Shares of Dolby Laboratories stock opened at $80.94 on Monday. The stock has a market cap of $7.72 billion, a P/E ratio of 29.76 and a beta of 1.01. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The business’s 50 day moving average is $82.16 and its 200-day moving average is $77.89.

Dolby Laboratories Announces Dividend

The company also recently declared 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 1.63%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 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.