Assetmark Inc. Has $1.50 Million Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Assetmark Inc. lifted its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,540 shares of the electronics maker’s stock after purchasing an additional 1,606 shares during the quarter. Assetmark Inc.’s holdings in Dolby Laboratories were worth $1,495,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lord Abbett & CO. LLC lifted its position in Dolby Laboratories by 9.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 266,672 shares of the electronics maker’s stock worth $22,339,000 after buying an additional 23,804 shares in the last quarter. Vanguard Group Inc. raised its holdings in Dolby Laboratories by 1.7% during the first quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock worth $544,711,000 after acquiring an additional 107,713 shares in the last quarter. Boston Trust Walden Corp boosted its position in Dolby Laboratories by 3.1% during the second quarter. Boston Trust Walden Corp now owns 376,793 shares of the electronics maker’s stock valued at $29,853,000 after purchasing an additional 11,177 shares during the last quarter. Panagora Asset Management Inc. bought a new position in Dolby Laboratories in the second quarter valued at approximately $3,348,000. Finally, Pacer Advisors Inc. grew its stake in Dolby Laboratories by 47.5% in the second quarter. Pacer Advisors Inc. now owns 23,320 shares of the electronics maker’s stock valued at $1,848,000 after purchasing an additional 7,509 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analysts Set New Price Targets

DLB has been the topic of a number of analyst reports. Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, September 20th. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 8th.

Dolby Laboratories Stock Performance

Dolby Laboratories stock opened at $73.17 on Friday. The stock has a 50-day simple moving average of $73.55 and a 200 day simple moving average of $76.22. The stock has a market capitalization of $6.98 billion, a P/E ratio of 33.41 and a beta of 0.98. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06.

Dolby Laboratories declared that its board has authorized a stock buyback plan on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CEO Kevin J. Yeaman sold 28,512 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the transaction, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at $6,205,400.52. This represents a 25.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 39.54% of the company’s stock.

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.