Oberweis Asset Management Inc. Makes New Investment in Dolby Laboratories, Inc. (NYSE:DLB)

Oberweis Asset Management Inc. bought a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 181,000 shares of the electronics maker's stock, valued at approximately $14,136,000. Oberweis Asset Management Inc. owned about 0.19% of Dolby Laboratories as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DLB. Voya Investment Management LLC raised its stake in shares of Dolby Laboratories by 157.3% during the 4th quarter. Voya Investment Management LLC now owns 20,539 shares of the electronics maker's stock worth $1,604,000 after purchasing an additional 12,558 shares during the period. Integrated Wealth Concepts LLC raised its holdings in shares of Dolby Laboratories by 10.7% in the 4th quarter. Integrated Wealth Concepts LLC now owns 3,448 shares of the electronics maker's stock worth $269,000 after purchasing an additional 334 shares during the period. Pinebridge Investments L.P. lifted its stake in Dolby Laboratories by 162.4% in the fourth quarter. Pinebridge Investments L.P. now owns 59,568 shares of the electronics maker's stock valued at $4,652,000 after purchasing an additional 36,867 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Dolby Laboratories during the fourth quarter valued at $698,000. Finally, Hsbc Holdings PLC increased its position in Dolby Laboratories by 692.7% in the fourth quarter. Hsbc Holdings PLC now owns 21,863 shares of the electronics maker's stock worth $1,713,000 after buying an additional 19,105 shares during the last quarter. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Price Performance

DLB stock traded up $0.95 during mid-day trading on Tuesday, reaching $76.97. 92,746 shares of the company traded hands, compared to its average volume of 451,942. The company has a fifty day moving average price of $78.18 and a 200-day moving average price of $78.31. The company has a market capitalization of $7.35 billion, a P/E ratio of 28.29 and a beta of 0.94. 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 issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.72%. Dolby Laboratories's payout ratio is currently 48.53%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of the business'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 value of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now owns 37,290 shares of the company's stock, valued at $3,123,037.50. The trade was a 32.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ryan Nicholson sold 7,000 shares of Dolby Laboratories stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,121 shares of company stock worth $5,501,324. Corporate insiders own 38.39% of the company's stock.

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.