New Age Alpha Advisors LLC Makes New Investment in Dolby Laboratories, Inc. (NYSE:DLB)

New Age Alpha Advisors LLC bought a new stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,653 shares of the electronics maker’s stock, valued at approximately $129,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in Dolby Laboratories by 64.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock valued at $376,948,000 after buying an additional 1,887,518 shares during the period. Norges Bank bought a new stake in shares of Dolby Laboratories during the fourth quarter valued at approximately $55,356,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Dolby Laboratories by 10,441,900.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after purchasing an additional 104,419 shares during the period. Vanguard Group Inc. grew its stake in Dolby Laboratories by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock worth $549,325,000 after purchasing an additional 68,771 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its holdings in Dolby Laboratories by 4.5% during 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 purchasing an additional 63,589 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the sale, the executive vice president now owns 62,397 shares in the company, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the transaction, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Dolby Laboratories Trading Up 0.8 %

Shares of NYSE:DLB opened at $81.25 on Thursday. The company has a market capitalization of $7.75 billion, a PE ratio of 29.87 and a beta of 1.01. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The business’s fifty day simple moving average is $82.22 and its 200-day simple moving average is $78.47.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were issued a $0.33 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.62%. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Dolby Laboratories Company 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.