Signet Financial Management LLC Sells 350 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Signet Financial Management LLC reduced its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,142 shares of the electronics maker’s stock after selling 350 shares during the quarter. Signet Financial Management LLC’s holdings in Dolby Laboratories were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. American Century Companies Inc. lifted its holdings in shares of Dolby Laboratories by 4.4% during the 2nd quarter. American Century Companies Inc. now owns 19,148 shares of the electronics maker’s stock worth $1,517,000 after acquiring an additional 800 shares during the last quarter. Parallel Advisors LLC raised its position in Dolby Laboratories by 4.6% during the second quarter. Parallel Advisors LLC now owns 6,856 shares of the electronics maker’s stock valued at $543,000 after purchasing an additional 301 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Dolby Laboratories by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 438,157 shares of the electronics maker’s stock valued at $34,715,000 after purchasing an additional 2,005 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Dolby Laboratories by 27.0% during the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after purchasing an additional 168,744 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Dolby Laboratories by 49.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,895 shares of the electronics maker’s stock worth $778,000 after purchasing an additional 3,279 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

Shares of DLB stock opened at $78.71 on Tuesday. The business has a 50-day moving average of $77.63 and a 200 day moving average of $75.53. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $86.37. The stock has a market capitalization of $7.51 billion, a PE ratio of 29.04 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were issued a $0.33 dividend. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, December 3rd. This represents a $1.32 annualized dividend and a dividend yield of 1.68%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 48.71%.

Insider Buying and Selling

In related news, EVP Mark Andrew Sherman sold 12,338 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total value of $963,351.04. Following the sale, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at $4,871,957.76. This trade represents a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Gotcher sold 6,079 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the transaction, the director now directly owns 37,593 shares of the company’s stock, valued at $2,968,343.28. The trade was a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,917 shares of company stock valued at $10,877,739 over the last three months. 39.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DLB shares. Rosenblatt Securities boosted their target price on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Wednesday, November 20th.

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.