Sanctuary Advisors LLC Has $712,000 Stock Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Sanctuary Advisors LLC reduced its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 71.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,845 shares of the electronics maker’s stock after selling 22,214 shares during the quarter. Sanctuary Advisors LLC’s holdings in Dolby Laboratories were worth $712,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in shares of Dolby Laboratories in the second quarter valued at approximately $37,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Dolby Laboratories by 192.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 379 shares during the period. First Horizon Advisors Inc. grew its holdings in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after buying an additional 146 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Dolby Laboratories during the third quarter worth approximately $93,000. Finally, Blue Trust Inc. raised its position in shares of Dolby Laboratories by 234.3% in the third quarter. Blue Trust Inc. now owns 1,384 shares of the electronics maker’s stock valued at $110,000 after buying an additional 970 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Rosenblatt Securities increased their price target 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 raised 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 issued a $100.00 price target on shares of Dolby Laboratories in a research note on Wednesday, November 20th.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, CAO Ryan Nicholson sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total value of $841,890.00. Following the sale, the chief accounting officer now owns 24,364 shares in the company, valued at $1,953,505.52. This trade represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark Andrew Sherman sold 12,338 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04. Following the transaction, the executive vice president now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 164,429 shares of company stock valued at $12,991,048. Corporate insiders own 39.54% of the company’s stock.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $77.62 on Tuesday. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $87.12. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 28.64 and a beta of 0.98. The company’s 50 day simple moving average is $76.29 and its 200 day simple moving average is $75.65.

Dolby Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were paid a $0.33 dividend. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.32 annualized dividend and a dividend yield of 1.70%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.71%.

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.