Everpar Advisors LLC Acquires Shares of 11,203 Dolby Laboratories, Inc. (NYSE:DLB)

Everpar Advisors LLC acquired a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,203 shares of the electronics maker’s stock, valued at approximately $965,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DLB. VisionPoint Advisory Group LLC lifted its holdings in shares of Dolby Laboratories by 86.9% in the third quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after buying an additional 172 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Dolby Laboratories by 75.7% in the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after buying an additional 159 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Dolby Laboratories by 175.3% in the third quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock worth $35,000 after buying an additional 284 shares in the last quarter. Platinum Investment Management Ltd. purchased a new stake in shares of Dolby Laboratories in the third quarter worth about $109,000. Finally, Column Capital Advisors LLC lifted its holdings in shares of Dolby Laboratories by 20.1% in the third quarter. Column Capital Advisors LLC now owns 1,462 shares of the electronics maker’s stock worth $116,000 after buying an additional 245 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DLB. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a report on Monday, April 29th. StockNews.com downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd.

Insider Activity at Dolby Laboratories

In related news, SVP John D. Couling sold 33,560 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $80.81, for a total value of $2,711,983.60. Following the sale, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 39.54% of the stock is currently owned by insiders.

Dolby Laboratories Stock Performance

DLB traded down $0.34 on Wednesday, reaching $82.60. The company had a trading volume of 240,389 shares, compared to its average volume of 375,212. The business has a 50 day simple moving average of $81.70 and a 200 day simple moving average of $83.28. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 42.16 and a beta of 0.98. Dolby Laboratories, Inc. has a 52-week low of $75.87 and a 52-week high of $91.01.

Dolby Laboratories Announces Dividend

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

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.