Dolby Laboratories $DLB Shares Sold by Aviva PLC

Aviva PLC lowered its stake in shares of Dolby Laboratories (NYSE:DLB) by 16.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,278 shares of the electronics maker’s stock after selling 1,226 shares during the period. Aviva PLC’s holdings in Dolby Laboratories were worth $466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DLB. M&T Bank Corp lifted its holdings in Dolby Laboratories by 8.3% in the 1st quarter. M&T Bank Corp now owns 3,595 shares of the electronics maker’s stock valued at $289,000 after purchasing an additional 274 shares in the last quarter. Cerity Partners LLC raised its position in shares of Dolby Laboratories by 48.6% in the first quarter. Cerity Partners LLC now owns 21,754 shares of the electronics maker’s stock valued at $1,747,000 after buying an additional 7,111 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Dolby Laboratories by 3.0% during the first quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the electronics maker’s stock valued at $1,373,000 after buying an additional 500 shares during the period. CWM LLC boosted its position in Dolby Laboratories by 269.5% during the first quarter. CWM LLC now owns 13,785 shares of the electronics maker’s stock worth $1,107,000 after acquiring an additional 10,054 shares during the last quarter. Finally, Securian Asset Management Inc. grew its stake in Dolby Laboratories by 3.0% in the 1st quarter. Securian Asset Management Inc. now owns 4,648 shares of the electronics maker’s stock worth $373,000 after acquiring an additional 137 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $65.58 on Friday. The business has a 50-day moving average of $69.24 and a two-hundred day moving average of $72.72. The firm has a market capitalization of $6.29 billion, a PE ratio of 24.02 and a beta of 0.97. Dolby Laboratories has a 12 month low of $64.38 and a 12 month high of $89.66.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 25,000 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $68.87, for a total transaction of $1,721,750.00. Following the transaction, the chief executive officer directly owned 114,725 shares of the company’s stock, valued at $7,901,110.75. The trade was a 17.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Shriram Revankar sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $74.92, for a total transaction of $524,440.00. Following the sale, the senior vice president owned 70,435 shares of the company’s stock, valued at approximately $5,276,990.20. This represents a 9.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,000 shares of company stock worth $4,037,690 in the last 90 days. 38.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DLB. Robert W. Baird began coverage on Dolby Laboratories in a report on Friday, September 5th. They issued a “neutral” rating and a $74.00 price target for the company. Baird R W upgraded Dolby Laboratories to a “hold” rating in a research note on Friday, September 5th. Wall Street Zen upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Dolby Laboratories in a report on Thursday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 price objective on shares of Dolby Laboratories in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.75.

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.