Amalgamated Bank Sells 259 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Amalgamated Bank lessened its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 40,968 shares of the electronics maker’s stock after selling 259 shares during the period. Amalgamated Bank’s holdings in Dolby Laboratories were worth $3,531,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. VisionPoint Advisory Group LLC boosted its stake in Dolby Laboratories by 86.9% in the third quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 172 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Dolby Laboratories by 75.7% in the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 159 shares during the period. Fifth Third Bancorp boosted its position in shares of Dolby Laboratories by 175.3% in the 3rd quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 284 shares during the last quarter. Platinum Investment Management Ltd. acquired a new stake in shares of Dolby Laboratories during the third quarter worth $109,000. Finally, Column Capital Advisors LLC grew its stake in shares of Dolby Laboratories by 20.1% during the third quarter. Column Capital Advisors LLC now owns 1,462 shares of the electronics maker’s stock worth $116,000 after purchasing an additional 245 shares during the period. Institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a research note on Monday, April 29th. StockNews.com downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd.

Dolby Laboratories Price Performance

NYSE DLB opened at $82.79 on Friday. Dolby Laboratories, Inc. has a one year low of $75.87 and a one year high of $91.01. The firm has a market cap of $7.91 billion, a P/E ratio of 42.24 and a beta of 0.98. The stock’s 50-day moving average is $81.75 and its 200-day moving average is $83.27.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, May 13th. This represents a $1.20 annualized dividend and a yield of 1.45%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 61.22%.

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.