Twin Tree Management LP Invests $662,000 in Dolby Laboratories, Inc. (NYSE:DLB)

Twin Tree Management LP purchased a new position in Dolby Laboratories, Inc. (NYSE:DLB) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 8,473 shares of the electronics maker’s stock, valued at approximately $662,000.

A number of other institutional investors also recently made changes to their positions in DLB. Victory Capital Management Inc. lifted its stake in shares of Dolby Laboratories by 18.5% in the 3rd quarter. Victory Capital Management Inc. now owns 14,665 shares of the electronics maker’s stock worth $1,122,000 after acquiring an additional 2,288 shares during the period. Empowered Funds LLC lifted its stake in Dolby Laboratories by 21.8% during the third quarter. Empowered Funds LLC now owns 7,528 shares of the electronics maker’s stock valued at $576,000 after purchasing an additional 1,348 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Dolby Laboratories by 496.7% during the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock valued at $7,823,000 after purchasing an additional 85,093 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Dolby Laboratories during the third quarter valued at approximately $93,000. Finally, Advisors Asset Management Inc. lifted its stake in Dolby Laboratories by 26.8% during the third quarter. Advisors Asset Management Inc. now owns 3,560 shares of the electronics maker’s stock valued at $272,000 after purchasing an additional 753 shares during the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DLB has been the subject of several recent research reports. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, January 30th. Finally, Barrington Research reissued an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Dolby Laboratories Price Performance

DLB stock opened at $82.22 on Wednesday. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $89.66. The company’s 50 day simple moving average is $81.86 and its 200-day simple moving average is $77.66. The firm has a market capitalization of $7.85 billion, a P/E ratio of 30.23 and a beta of 1.01.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.61%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Insider Activity

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares in the company, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Todd Pendleton sold 18,121 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,121 shares of company stock worth $5,501,324 over the last 90 days. 38.39% of the stock is owned by company insiders.

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.