Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Sepio Capital LP

Sepio Capital LP decreased its stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 38.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,785 shares of the electronics maker's stock after selling 6,636 shares during the quarter. Sepio Capital LP's holdings in Dolby Laboratories were worth $842,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in Dolby Laboratories by 5.5% in the 4th quarter. Russell Investments Group Ltd. now owns 40,924 shares of the electronics maker's stock valued at $3,196,000 after purchasing an additional 2,117 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of Dolby Laboratories by 3.3% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 174,826 shares of the electronics maker's stock worth $13,654,000 after buying an additional 5,590 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in Dolby Laboratories during the fourth quarter worth about $834,000. ExodusPoint Capital Management LP purchased a new stake in Dolby Laboratories during the 4th quarter valued at about $11,459,000. Finally, Bryce Point Capital LLC purchased a new position in Dolby Laboratories in the 4th quarter worth approximately $1,670,000. Hedge funds and other institutional investors own 58.56% of the company's stock.

Insiders Place Their Bets

In related news, CAO Ryan Nicholson sold 7,000 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 29,758 shares of the company's stock, valued at $2,501,755.06. This represents a 19.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Todd Pendleton sold 18,121 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now directly owns 37,290 shares of the company's stock, valued at $3,123,037.50. This represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock valued at $5,501,324 over the last 90 days. 38.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DLB. Barrington Research restated an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, February 13th. StockNews.com downgraded Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st. Finally, Rosenblatt Securities reissued a "buy" rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, January 30th.

Dolby Laboratories Trading Up 1.1 %

Dolby Laboratories stock traded up $0.79 during mid-day trading on Friday, hitting $73.35. The company's stock had a trading volume of 380,749 shares, compared to its average volume of 448,535. The stock's fifty day moving average is $80.46 and its two-hundred day moving average is $78.41. The firm has a market capitalization of $7.00 billion, a PE ratio of 26.97 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.

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 given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.80%. Dolby Laboratories's payout ratio is currently 48.53%.

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.