Thrive Wealth Management LLC Purchases 233 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Thrive Wealth Management LLC grew its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,698 shares of the electronics maker’s stock after acquiring an additional 233 shares during the period. Thrive Wealth Management LLC’s holdings in Dolby Laboratories were worth $214,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. NEOS Investment Management LLC boosted its position in shares of Dolby Laboratories by 5.0% during the 4th quarter. NEOS Investment Management LLC now owns 2,709 shares of the electronics maker’s stock worth $233,000 after purchasing an additional 129 shares in the last quarter. First Affirmative Financial Network grew its stake in Dolby Laboratories by 4.9% in the second quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock valued at $219,000 after acquiring an additional 129 shares during the period. Bleakley Financial Group LLC grew its stake in Dolby Laboratories by 1.4% in the fourth quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker’s stock valued at $814,000 after acquiring an additional 134 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in shares of Dolby Laboratories by 1.9% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,799 shares of the electronics maker’s stock valued at $758,000 after acquiring an additional 161 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Dolby Laboratories by 36.8% during the fourth quarter. Fifth Third Bancorp now owns 610 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 164 shares during the period. 58.56% of the stock is owned by institutional investors.

Insider Activity

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total value of $181,772.46. Following the transaction, the executive vice president now directly owns 58,325 shares in the company, valued at $4,643,836.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 39.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Friday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a research report on Friday, June 7th. Finally, StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th.

Dolby Laboratories Stock Down 0.6 %

Dolby Laboratories stock traded down $0.38 during midday trading on Friday, hitting $67.58. 806,079 shares of the stock were exchanged, compared to its average volume of 391,516. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 34.48 and a beta of 0.99. Dolby Laboratories, Inc. has a 52-week low of $66.47 and a 52-week high of $90.06. The business’s 50-day moving average price is $78.43 and its 200-day moving average price is $80.39.

Dolby Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.20 annualized dividend and a yield of 1.78%. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

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.