Envestnet Asset Management Inc. Has $13.68 Million Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Envestnet Asset Management Inc. trimmed its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 175,165 shares of the electronics maker's stock after selling 6,238 shares during the period. Envestnet Asset Management Inc. owned approximately 0.18% of Dolby Laboratories worth $13,680,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in Dolby Laboratories by 82.7% during the 4th 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 increased its position in Dolby Laboratories by 436.2% in 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. raised 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 purchasing an additional 142 shares during the last quarter. Headlands Technologies LLC acquired a new position in Dolby Laboratories during the 4th quarter valued at about $57,000. Finally, GAMMA Investing LLC boosted 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 during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction 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 $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Andrew Sherman sold 40,000 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the sale, the executive vice president now owns 62,397 shares in the company, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. 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 quarter. Company insiders own 38.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Rosenblatt Securities restated a "buy" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th. Barrington Research reissued an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, February 13th. Finally, StockNews.com cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Dolby Laboratories Stock Up 2.9 %

Dolby Laboratories stock traded up $2.08 during midday trading on Tuesday, hitting $72.75. 427,740 shares of the stock were exchanged, compared to its average volume of 449,991. The stock has a market capitalization of $6.94 billion, a PE ratio of 26.75 and a beta of 0.94. The company has a fifty day simple moving average of $78.86 and a two-hundred day simple moving average of $78.24. 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 declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.81%. Dolby Laboratories's dividend payout ratio is 48.53%.

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.