Cardinal Capital Management Has $3.24 Million Stock Position in Dolby Laboratories, Inc. (NYSE:DLB)

Cardinal Capital Management lifted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,453 shares of the electronics maker’s stock after purchasing an additional 1,273 shares during the quarter. Cardinal Capital Management’s holdings in Dolby Laboratories were worth $3,237,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 163 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 301 shares in the last quarter. Mather Group LLC. grew its position in Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares during the period. GAMMA Investing LLC increased its stake in Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock valued at $61,000 after purchasing an additional 525 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after buying an additional 146 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Price Performance

DLB opened at $83.72 on Tuesday. The firm’s fifty day moving average price is $80.35 and its two-hundred day moving average price is $76.10. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 30.78 and a beta of 0.98. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, February 11th. Dolby Laboratories’s payout ratio is 48.53%.

Insider Buying and Selling at Dolby Laboratories

In related news, EVP Mark Andrew Sherman sold 12,338 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total value of $963,351.04. Following the transaction, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $4,871,957.76. The trade was a 16.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John D. Couling sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the sale, the senior vice president now owns 106,806 shares of the company’s stock, valued at $8,548,752.24. This trade represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 182,917 shares of company stock worth $14,861,429. Insiders own 38.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.