Verition Fund Management LLC Acquires New Position in Dolby Laboratories, Inc. (NYSE:DLB)

Verition Fund Management LLC acquired a new position in Dolby Laboratories, Inc. (NYSE:DLB) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 13,033 shares of the electronics maker’s stock, valued at approximately $997,000.

Several other institutional investors also recently bought and sold shares of DLB. Boston Trust Walden Corp grew its position in shares of Dolby Laboratories by 185.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after buying an additional 698,283 shares in the last quarter. Clifford Capital Partners LLC grew its holdings in Dolby Laboratories by 3,114.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after acquiring an additional 262,162 shares in the last quarter. Acadian Asset Management LLC increased its position in Dolby Laboratories by 39.8% during the 2nd quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock valued at $51,698,000 after purchasing an additional 185,884 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Dolby Laboratories by 27.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock valued at $62,817,000 after purchasing an additional 168,744 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Dolby Laboratories by 16.2% in the 2nd quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker’s stock worth $49,690,000 after purchasing an additional 87,298 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DLB has been the topic of several research reports. Rosenblatt Securities lifted their price objective on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Finally, Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Wednesday, November 20th.

Insiders Place Their Bets

In other news, SVP John D. Couling sold 7,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.50, for a total value of $563,500.00. Following the sale, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at $8,597,883. This represents a 6.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin J. Yeaman sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the transaction, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at approximately $6,742,889.34. This trade represents a 37.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,091 shares of company stock valued at $12,027,697. 39.54% of the stock is owned by company insiders.

Dolby Laboratories Trading Down 0.2 %

NYSE:DLB opened at $79.15 on Monday. 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 $7.55 billion, a PE ratio of 29.21 and a beta of 0.98. The company’s 50 day moving average is $75.51 and its two-hundred day moving average is $75.75.

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 $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.67%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio is presently 48.71%.

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.