Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 175,165 shares of the electronics maker’s stock after selling 6,238 shares during the quarter. Envestnet Asset Management Inc. owned about 0.18% of Dolby Laboratories worth $13,680,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after purchasing an additional 63,293 shares during the period. Lord Abbett & CO. LLC grew its holdings in Dolby Laboratories by 5.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after buying an additional 15,546 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Dolby Laboratories by 10,441,900.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after acquiring an additional 104,419 shares during the period. Barclays PLC raised its stake in Dolby Laboratories by 80.5% during the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock valued at $2,544,000 after acquiring an additional 14,825 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Dolby Laboratories by 22.0% during the 3rd quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker’s stock valued at $3,513,000 after acquiring an additional 8,509 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Insider Activity

In other news, CAO Ryan Nicholson sold 7,000 shares of the company’s 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the transaction, the executive vice president now owns 62,397 shares of the company’s stock, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,121 shares of company stock worth $5,501,324. Corporate insiders own 38.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dolby Laboratories Stock Down 2.3 %

Shares of Dolby Laboratories stock opened at $72.27 on Thursday. The business has a fifty day simple moving average of $79.81 and a 200-day simple moving average of $78.35. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66. The firm has a market cap of $6.90 billion, a price-to-earnings ratio of 26.57 and a beta of 0.94.

Dolby Laboratories Announces Dividend

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