Signet Financial Management LLC Sells 350 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Signet Financial Management LLC decreased its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 7.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,142 shares of the electronics maker’s stock after selling 350 shares during the period. Signet Financial Management LLC’s holdings in Dolby Laboratories were worth $323,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in Dolby Laboratories by 1.5% in the third quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock worth $147,824,000 after purchasing an additional 29,289 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 63,293 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in shares of Dolby Laboratories by 4.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after buying an additional 63,589 shares during the period. Boston Trust Walden Corp increased its stake in shares of Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after acquiring an additional 698,283 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Dolby Laboratories by 3.5% during the 2nd quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker’s stock valued at $80,041,000 after acquiring an additional 33,848 shares during the period. Institutional investors own 58.56% of the company’s stock.

Insider Activity at Dolby Laboratories

In related news, Director Peter C. Gotcher sold 6,079 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $78.96, for a total transaction of $479,997.84. Following the sale, the director now directly owns 37,593 shares of the company’s stock, valued at $2,968,343.28. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John D. Couling sold 7,000 shares of Dolby Laboratories stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the sale, the senior vice president now owns 106,806 shares of the company’s stock, valued at $8,597,883. The trade was a 6.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,917 shares of company stock valued at $10,877,739 over the last 90 days. Corporate insiders own 39.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Wednesday, November 20th. Rosenblatt Securities upped their price target on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th.

Dolby Laboratories Stock Performance

Shares of DLB stock opened at $78.71 on Tuesday. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 29.04 and a beta of 0.98. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $86.37. The company’s 50-day moving average is $77.63 and its 200 day moving average is $75.53.

Dolby Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.33 per share. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.68%. Dolby Laboratories’s dividend payout ratio is presently 48.71%.

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.