Ontario Teachers Pension Plan Board Sells 4,268 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Ontario Teachers Pension Plan Board lessened its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 38.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,807 shares of the electronics maker's stock after selling 4,268 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Dolby Laboratories were worth $532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Savant Capital LLC lifted its stake in shares of Dolby Laboratories by 2.0% in the 4th quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker's stock valued at $490,000 after acquiring an additional 125 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in Dolby Laboratories by 0.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock worth $1,525,000 after buying an additional 132 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Dolby Laboratories by 5.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker's stock worth $201,000 after acquiring an additional 136 shares during the last quarter. Mather Group LLC. increased its position in Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after acquiring an additional 142 shares during the period. Finally, Naples Global Advisors LLC raised its stake in shares of Dolby Laboratories by 0.4% during the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker's stock valued at $2,791,000 after acquiring an additional 160 shares during the last quarter. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Trading Up 2.1 %

DLB stock traded up $1.46 during trading on Tuesday, reaching $72.13. 45,393 shares of the stock were exchanged, compared to its average volume of 447,921. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66. The firm's 50 day moving average is $79.09 and its 200 day moving average is $78.28. The firm has a market cap of $6.88 billion, a P/E ratio of 26.54 and a beta of 0.94.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.83%. Dolby Laboratories's payout ratio is 48.53%.

Analysts Set New Price Targets

A number of analysts have weighed in on DLB shares. Rosenblatt Securities reissued a "buy" rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th. Barrington Research reaffirmed an "outperform" rating and set a $100.00 target price 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 report on Friday, January 31st.

Insider Activity

In related news, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares of the company's stock, valued at $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Todd Pendleton sold 18,121 shares of the firm's stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,121 shares of company stock worth $5,501,324 over the last three months. 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.