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

Everpar Advisors LLC acquired a new position in shares of Dolby Laboratories, Inc. (NYSE:DLB) in 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 hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in Dolby Laboratories by 1.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,517 shares of the electronics maker’s stock valued at $754,000 after acquiring an additional 118 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Dolby Laboratories by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 26,817 shares of the electronics maker’s stock worth $2,126,000 after purchasing an additional 133 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Dolby Laboratories by 1.4% during the fourth quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker’s stock worth $814,000 after purchasing an additional 134 shares during the last quarter. Arizona State Retirement System grew its position in Dolby Laboratories by 0.8% in the third quarter. Arizona State Retirement System now owns 16,918 shares of the electronics maker’s stock valued at $1,341,000 after purchasing an additional 139 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in Dolby Laboratories by 5.1% in the 4th quarter. Whittier Trust Co. now owns 3,223 shares of the electronics maker’s stock valued at $278,000 after buying an additional 156 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Price Performance

NYSE DLB traded down $0.34 on Wednesday, hitting $82.60. 240,389 shares of the stock were exchanged, compared to its average volume of 375,212. The company has a market capitalization of $7.89 billion, a PE ratio of 42.16 and a beta of 0.98. The business’s fifty day moving average is $81.70 and its 200 day moving average is $83.28. Dolby Laboratories, Inc. has a 52 week low of $75.87 and a 52 week high of $91.01.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders 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 is Monday, May 13th. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DLB shares. StockNews.com cut Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Rosenblatt Securities reissued a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a research report on Monday, April 29th.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 108,519 shares in the company, valued at $8,769,420.39. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 39.54% of the company’s stock.

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.