Dolby Laboratories, Inc. (NYSE:DLB) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC boosted its position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 33.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,643 shares of the electronics maker's stock after buying an additional 3,706 shares during the quarter. Cerity Partners LLC's holdings in Dolby Laboratories were worth $1,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DLB. Fifth Third Bancorp grew its position in shares of Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after buying an additional 163 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 301 shares during the last quarter. Mather Group LLC. grew its holdings in Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after acquiring an additional 142 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Dolby Laboratories in the 4th quarter worth about $57,000. Finally, GAMMA Investing LLC raised its stake in shares of Dolby Laboratories by 207.5% in the 4th 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 owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DLB shares. 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. Barrington Research restated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th. Finally, StockNews.com lowered shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock traded up $1.23 on Thursday, reaching $75.03. 51,812 shares of the company were exchanged, compared to its average volume of 449,489. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 27.55 and a beta of 0.94. 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 $78.66 and its two-hundred day moving average is $78.21.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Tuesday, February 11th. Dolby Laboratories's payout ratio is 48.53%.

Insider Activity

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of the company's 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 transaction, the executive vice president now owns 62,397 shares in the company, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,758 shares of the company's stock, valued at $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is currently 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.