Bryce Point Capital LLC Invests $1.67 Million in Dolby Laboratories, Inc. (NYSE:DLB)

Bryce Point Capital LLC bought a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 21,386 shares of the electronics maker’s stock, valued at approximately $1,670,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Dolby Laboratories during the fourth quarter worth about $57,000. Cornercap Investment Counsel Inc. bought a new position in shares of Dolby Laboratories during the 4th quarter worth approximately $431,000. Palogic Value Management L.P. boosted its stake in Dolby Laboratories by 6.4% in the 4th quarter. Palogic Value Management L.P. now owns 3,888 shares of the electronics maker’s stock valued at $304,000 after buying an additional 235 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Dolby Laboratories by 0.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker’s stock valued at $1,525,000 after acquiring an additional 132 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in Dolby Laboratories by 10.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,673 shares of the electronics maker’s stock worth $677,000 after acquiring an additional 825 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Mark Andrew Sherman sold 40,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 62,397 shares in the company, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction dated 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 sale, the chief marketing officer now directly owns 37,290 shares of the company’s stock, valued at $3,123,037.50. This represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,121 shares of company stock valued at $5,501,324. Insiders own 38.39% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of DLB stock opened at $80.64 on Wednesday. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The stock has a market capitalization of $7.70 billion, a PE ratio of 29.65 and a beta of 1.01. The stock’s fifty day moving average is $82.22 and its 200-day moving average is $78.45.

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 given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s payout ratio is presently 48.53%.

Analysts Set New Price Targets

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

Dolby Laboratories Company 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.