Meritas Wealth Management LLC Has $212,000 Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Meritas Wealth Management LLC reduced its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 19.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,711 shares of the electronics maker’s stock after selling 644 shares during the quarter. Meritas Wealth Management LLC’s holdings in Dolby Laboratories were worth $212,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Boston Trust Walden Corp increased its position in Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after acquiring an additional 698,283 shares in the last quarter. Clifford Capital Partners LLC grew its stake in shares of Dolby Laboratories by 3,114.7% during the third 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Dolby Laboratories by 27.0% in the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock valued at $62,817,000 after purchasing an additional 168,744 shares in the last quarter. AQR Capital Management LLC raised its position in Dolby Laboratories by 16.2% in the 2nd quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker’s stock worth $49,690,000 after purchasing an additional 87,298 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Dolby Laboratories by 496.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock worth $7,823,000 after buying an additional 85,093 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Stock Performance

Shares of DLB stock opened at $81.24 on Monday. The firm’s 50 day moving average price is $78.07 and its two-hundred day moving average price is $75.56. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $86.37. The stock has a market cap of $7.75 billion, a PE ratio of 29.98 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were given a $0.33 dividend. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is currently 48.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DLB shares. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Barrington Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Finally, Rosenblatt Securities upped their target price on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th.

Insider Buying and Selling

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total value of $963,351.04. Following the sale, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $4,871,957.76. This trade represents a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter C. Gotcher sold 6,079 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the completion of the transaction, the director now directly owns 37,593 shares of the company’s stock, valued at $2,968,343.28. This trade represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 135,917 shares of company stock valued at $10,877,739 over the last three months. Company insiders own 38.39% of the company’s stock.

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.