Pinebridge Investments L.P. Purchases 36,867 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Pinebridge Investments L.P. lifted its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 162.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 59,568 shares of the electronics maker's stock after purchasing an additional 36,867 shares during the period. Pinebridge Investments L.P. owned about 0.06% of Dolby Laboratories worth $4,652,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Barclays PLC increased its position in shares of Dolby Laboratories by 80.5% during the third quarter. Barclays PLC now owns 33,230 shares of the electronics maker's stock worth $2,544,000 after purchasing an additional 14,825 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Dolby Laboratories by 10.8% in the 3rd quarter. Synovus Financial Corp now owns 32,062 shares of the electronics maker's stock worth $2,454,000 after purchasing an additional 3,113 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Dolby Laboratories by 22.0% in the 3rd quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker's stock worth $3,513,000 after purchasing an additional 8,509 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Dolby Laboratories by 5.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker's stock worth $21,771,000 after purchasing an additional 15,546 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position 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 worth $61,000 after purchasing an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company's stock.

Analyst Ratings Changes

DLB has been the subject of a number of research reports. StockNews.com cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, February 13th.

Insider Buying and Selling at Dolby Laboratories

In related news, 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 sale, the chief accounting officer now owns 29,758 shares of the company's stock, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Todd Pendleton sold 18,121 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 directly owns 37,290 shares of the company's stock, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. Insiders own 38.39% of the company's stock.

Dolby Laboratories Trading Down 0.0 %

Shares of NYSE DLB traded down $0.04 during trading on Thursday, reaching $76.76. 99,153 shares of the company traded hands, compared to its average volume of 451,811. The stock has a market cap of $7.33 billion, a P/E ratio of 28.22 and a beta of 0.94. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The firm's fifty day simple moving average is $77.97 and its 200 day simple moving average is $78.29.

About Dolby Laboratories

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.