Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Harfst & Associates Inc.

Harfst & Associates Inc. decreased its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 45.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,738 shares of the electronics maker’s stock after selling 2,298 shares during the period. Harfst & Associates Inc.’s holdings in Dolby Laboratories were worth $214,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DLB. Bank of New York Mellon Corp boosted its position in shares of Dolby Laboratories by 64.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock valued at $376,948,000 after purchasing an additional 1,887,518 shares in the last quarter. Clifford Capital Partners LLC boosted its position in shares of 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 valued at $20,707,000 after purchasing an additional 262,162 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Dolby Laboratories by 10,441,900.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after purchasing an additional 104,419 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Dolby Laboratories by 496.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock valued at $7,823,000 after purchasing an additional 85,093 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its position in shares of Dolby Laboratories by 4.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after purchasing an additional 63,589 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

Shares of DLB opened at $81.57 on Thursday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The company has a 50-day moving average of $80.83 and a two-hundred day moving average of $76.58. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 29.99 and a beta of 0.98.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s payout ratio is 48.53%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Barrington Research reiterated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, February 13th.

Insiders Place Their Bets

In other news, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the sale, the chief accounting officer now directly owns 29,758 shares of the company’s stock, valued at $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Andrew Sherman sold 12,338 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly 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. Insiders sold a total of 77,459 shares of company stock worth $6,464,675 over the last ninety days. 38.39% of the stock is currently owned by company insiders.

About Dolby Laboratories

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.