Yousif Capital Management LLC Reduces Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Yousif Capital Management LLC reduced its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 4.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 20,938 shares of the electronics maker’s stock after selling 975 shares during the period. Yousif Capital Management LLC’s holdings in Dolby Laboratories were worth $1,635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DLB. Boston Trust Walden Corp increased its position in shares of Dolby Laboratories by 185.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after purchasing an additional 698,283 shares during the last quarter. Clifford Capital Partners LLC lifted its holdings in shares of Dolby Laboratories by 3,114.7% in the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after acquiring an additional 262,162 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Dolby Laboratories by 496.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock worth $7,823,000 after purchasing an additional 85,093 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings 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 purchasing an additional 63,589 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Dolby Laboratories by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after purchasing an additional 63,293 shares during the period. 58.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories 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 transaction, the chief accounting officer now directly owns 29,758 shares in the company, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Andrew Sherman sold 40,000 shares of the company’s stock in a transaction that occurred 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 approximately $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,917 shares of company stock worth $14,861,429 in the last quarter. 38.39% of the stock is owned by insiders.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $83.00 on Thursday. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66. The firm has a market capitalization of $7.92 billion, a P/E ratio of 30.51 and a beta of 0.98. The company’s fifty day moving average price is $80.07 and its 200 day moving average price is $76.00.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be given a $0.33 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.59%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.53%.

Analyst Ratings Changes

Several equities analysts have weighed in on DLB shares. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Monday, January 27th. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, January 30th.

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.