Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its position in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 45.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,480 shares of the electronics maker's stock after selling 17,870 shares during the period. Bank of Montreal Can's holdings in Dolby Laboratories were worth $1,678,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of the business's stock in a transaction on Thursday, January 30th. The shares were 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 directly owns 62,397 shares in the company, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ryan Nicholson sold 7,000 shares of the firm's stock in a transaction dated 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 trade represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is owned by corporate insiders.

Dolby Laboratories Stock Up 3.0 %

DLB stock traded up $2.19 during trading on Wednesday, hitting $74.91. The company had a trading volume of 46,801 shares, compared to its average volume of 476,877. The firm has a 50-day moving average price of $78.86 and a 200-day moving average price of $78.24. The firm has a market cap of $7.15 billion, a PE ratio of 27.54 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.