Moran Wealth Management LLC Raises Position in Dolby Laboratories, Inc. (NYSE:DLB)

Moran Wealth Management LLC boosted its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 4.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,184 shares of the electronics maker’s stock after buying an additional 390 shares during the period. Moran Wealth Management LLC’s holdings in Dolby Laboratories were worth $717,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DLB. Bank of New York Mellon Corp increased its position in shares of Dolby Laboratories by 64.2% during the fourth 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 in the last quarter. Clifford Capital Partners LLC grew its holdings in shares of Dolby Laboratories by 3,114.7% during the third quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after buying an additional 262,162 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Dolby Laboratories by 10,441,900.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock worth $8,123,000 after buying an additional 104,419 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Dolby Laboratories by 496.7% in the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock worth $7,823,000 after buying an additional 85,093 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its position in Dolby Laboratories by 4.5% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after acquiring an additional 63,589 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Stock Down 0.1 %

Shares of Dolby Laboratories stock opened at $81.93 on Wednesday. The business’s fifty day simple moving average is $81.51 and its 200-day simple moving average is $77.29. The firm has a market cap of $7.82 billion, a PE ratio of 30.12 and a beta of 1.01. 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 announced 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 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s payout ratio is 48.53%.

Analyst Ratings Changes

Several research analysts have recently weighed in on DLB shares. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. 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, Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, January 30th.

Insider Buying and Selling at Dolby Laboratories

In related news, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now directly owns 37,290 shares in the company, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Andrew Sherman sold 12,338 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04. Following the sale, the executive vice president now owns 62,397 shares in the company, valued at $4,871,957.76. This trade represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,459 shares of company stock valued at $6,464,675 over the last quarter. 38.39% of the stock is owned by company insiders.

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.