Hillsdale Investment Management Inc. Invests $750,000 in Dolby Laboratories, Inc. (NYSE:DLB)

Hillsdale Investment Management Inc. acquired a new position in Dolby Laboratories, Inc. (NYSE:DLB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 9,600 shares of the electronics maker’s stock, valued at approximately $750,000.

Other large investors have also recently modified their holdings of the company. Fifth Third Bancorp grew its stake in shares of Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 163 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 301 shares during the last quarter. Mather Group LLC. grew its stake in shares of Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after purchasing an additional 142 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after purchasing an additional 146 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after purchasing an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insider Transactions at Dolby Laboratories

In other news, CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the sale, the chief marketing officer now directly owns 37,290 shares of the company’s stock, valued at $3,123,037.50. The trade was a 32.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the sale, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,121 shares of company stock valued at $5,501,324 in the last ninety days. 38.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Dolby Laboratories Stock Performance

Dolby Laboratories stock opened at $80.94 on Monday. The stock’s 50 day simple moving average is $82.16 and its two-hundred day simple moving average is $77.89. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 29.76 and a beta of 1.01. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.63%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

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.