ExodusPoint Capital Management LP Invests $11.46 Million in Dolby Laboratories, Inc. (NYSE:DLB)

ExodusPoint Capital Management LP bought a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 146,719 shares of the electronics maker’s stock, valued at approximately $11,459,000. ExodusPoint Capital Management LP owned approximately 0.15% of Dolby Laboratories as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of DLB. BNP Paribas Financial Markets grew its position in shares of Dolby Laboratories by 125.2% during the third quarter. BNP Paribas Financial Markets now owns 13,463 shares of the electronics maker’s stock valued at $1,030,000 after purchasing an additional 7,484 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Dolby Laboratories by 14.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,519 shares of the electronics maker’s stock worth $958,000 after acquiring an additional 1,596 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Dolby Laboratories during the 3rd quarter worth approximately $997,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Dolby Laboratories during the 3rd quarter valued at approximately $739,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Dolby Laboratories by 12.2% in the third quarter. Quantinno Capital Management LP now owns 8,592 shares of the electronics maker’s stock valued at $658,000 after purchasing an additional 932 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $72.54 on Friday. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The company’s 50-day moving average is $82.03 and its 200 day moving average is $78.47. The firm has a market capitalization of $6.92 billion, a P/E ratio of 26.67 and a beta of 1.01.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Insider Activity at Dolby Laboratories

In related news, CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction that occurred 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 owns 37,290 shares in the company, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 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. The trade was a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock worth $5,501,324 in the last quarter. 38.39% of the stock is owned by company 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.