Algert Global LLC Has $3.74 Million Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Algert Global LLC increased its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 52.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,822 shares of the electronics maker’s stock after buying an additional 16,700 shares during the quarter. Algert Global LLC owned about 0.05% of Dolby Laboratories worth $3,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Dolby Laboratories by 398.8% during the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 331 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Dolby Laboratories in the second quarter valued at $37,000. GAMMA Investing LLC lifted its stake in shares of Dolby Laboratories by 64.6% in the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after buying an additional 192 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Dolby Laboratories by 192.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock valued at $46,000 after buying an additional 379 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of 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 acquiring an additional 146 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the completion of the transaction, the chief executive officer now owns 83,721 shares in the company, valued at approximately $6,205,400.52. This represents a 25.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $78.96, for a total transaction of $479,997.84. Following the completion of the sale, the director now directly owns 37,593 shares in the company, valued at approximately $2,968,343.28. This represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 39.54% of the company’s stock.

Dolby Laboratories Stock Down 0.3 %

Dolby Laboratories stock opened at $80.33 on Tuesday. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06. The company’s 50 day moving average price is $74.50 and its two-hundred day moving average price is $75.96. The stock has a market cap of $7.66 billion, a P/E ratio of 29.64 and a beta of 0.98.

Dolby Laboratories announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 7th that permits the company to repurchase $350.00 million in outstanding shares. This repurchase authorization permits the electronics maker to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Dolby Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd will be given a $0.33 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.32 annualized dividend and a yield of 1.64%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s payout ratio is currently 48.71%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DLB shares. Barrington Research reiterated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Wednesday, November 20th. Rosenblatt Securities lifted their target price on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

About Dolby Laboratories

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.