FORA Capital LLC Has $1.08 Million Stake in Dolby Laboratories, Inc. (NYSE:DLB)

FORA Capital LLC boosted its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 65.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,104 shares of the electronics maker’s stock after buying an additional 5,595 shares during the quarter. FORA Capital LLC’s holdings in Dolby Laboratories were worth $1,079,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DLB. Price T Rowe Associates Inc. MD increased its position in Dolby Laboratories by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,160 shares of the electronics maker’s stock worth $4,538,000 after buying an additional 855 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Dolby Laboratories by 41.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,363 shares of the electronics maker’s stock valued at $425,000 after purchasing an additional 1,569 shares during the last quarter. Tidal Investments LLC grew its position in shares of Dolby Laboratories by 53.9% in the first quarter. Tidal Investments LLC now owns 10,493 shares of the electronics maker’s stock valued at $879,000 after purchasing an additional 3,673 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Dolby Laboratories in the first quarter valued at about $178,000. Finally, Cetera Advisors LLC acquired a new stake in shares of Dolby Laboratories in the first quarter valued at about $225,000. 58.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com downgraded Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Finally, Rosenblatt Securities raised their price target on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th.

Dolby Laboratories Stock Down 2.7 %

DLB stock opened at $78.20 on Thursday. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $90.06. The company has a market cap of $7.46 billion, a PE ratio of 28.86 and a beta of 0.98. The business’s 50-day simple moving average is $74.67 and its 200 day simple moving average is $75.94.

Dolby Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.69%. Dolby Laboratories’s dividend payout ratio (DPR) is 44.28%.

Dolby Laboratories declared that its Board of Directors has approved a share repurchase program on Wednesday, August 7th that allows the company to buyback $350.00 million in shares. This buyback authorization allows the electronics maker to buy up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Dolby Laboratories news, SVP John D. Couling sold 7,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.50, for a total transaction of $563,500.00. Following the completion of the transaction, the senior vice president now owns 106,806 shares in the company, valued at $8,597,883. This trade represents a 6.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ryan Nicholson sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total transaction of $841,890.00. Following the transaction, the chief accounting officer now owns 24,364 shares of the company’s stock, valued at approximately $1,953,505.52. This represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,091 shares of company stock valued at $12,027,697 over the last three months. 39.54% of the stock is owned by corporate insiders.

Dolby Laboratories 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.