Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP reduced its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 62.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,068 shares of the electronics maker's stock after selling 30,423 shares during the period. Bridgewater Associates LP's holdings in Dolby Laboratories were worth $1,411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DLB. Fifth Third Bancorp raised its holdings in Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after buying an additional 163 shares during the period. Nisa Investment Advisors LLC increased its stake in Dolby Laboratories by 436.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock worth $29,000 after purchasing an additional 301 shares during the period. Mather Group LLC. increased its stake in shares of Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after buying an additional 142 shares during the period. Headlands Technologies LLC acquired a new position in Dolby Laboratories in the fourth quarter valued at approximately $57,000. Finally, GAMMA Investing LLC boosted its holdings in Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after purchasing an additional 525 shares in the last quarter. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com downgraded Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price target 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 objective on shares of Dolby Laboratories in a report on Thursday, January 30th.

Dolby Laboratories Trading Up 2.4 %

Shares of NYSE:DLB traded up $1.77 during trading on Thursday, hitting $75.57. 69,337 shares of the stock were exchanged, compared to its average volume of 476,849. The company has a market cap of $7.21 billion, a PE ratio of 27.78 and a beta of 0.94. The company has a fifty day moving average price of $78.66 and a two-hundred day moving average price of $78.21. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories's dividend payout ratio is currently 48.53%.

Insider Transactions at Dolby Laboratories

In related news, CMO Todd Pendleton sold 18,121 shares of Dolby Laboratories 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 sale, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their position. 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 Dolby Laboratories stock in a transaction dated 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 completion of the sale, the executive vice president now owns 62,397 shares of the company's stock, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,121 shares of company stock valued at $5,501,324 in the last 90 days. 38.39% of the stock is currently owned by 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.