Corebridge Financial Inc. Sells 3,044 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Corebridge Financial Inc. trimmed its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,517 shares of the electronics maker’s stock after selling 3,044 shares during the quarter. Corebridge Financial Inc.’s holdings in Dolby Laboratories were worth $5,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in DLB. Vanguard Group Inc. boosted its holdings in shares of Dolby Laboratories by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker’s stock worth $549,325,000 after buying an additional 68,771 shares in the last quarter. Fox Run Management L.L.C. lifted its position in shares of Dolby Laboratories by 339.8% during the 4th quarter. Fox Run Management L.L.C. now owns 15,796 shares of the electronics maker’s stock valued at $1,234,000 after acquiring an additional 12,204 shares during the period. KLP Kapitalforvaltning AS bought a new position in Dolby Laboratories during the fourth quarter worth $1,562,000. Hillsdale Investment Management Inc. acquired a new stake in Dolby Laboratories in the fourth quarter worth $750,000. Finally, American Century Companies Inc. increased its stake in Dolby Laboratories by 12.3% in the fourth quarter. American Century Companies Inc. now owns 21,588 shares of the electronics maker’s stock valued at $1,686,000 after purchasing an additional 2,356 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark Andrew Sherman sold 40,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were 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 owns 62,397 shares in the company, valued at $5,296,257.36. This represents a 39.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the sale, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,121 shares of company stock valued at $5,501,324. Corporate insiders own 38.39% of the company’s stock.

Dolby Laboratories Trading Down 2.1 %

Dolby Laboratories stock opened at $79.94 on Friday. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 29.39 and a beta of 1.01. The firm’s fifty day moving average price is $82.25 and its two-hundred day moving average price is $78.26. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were given a $0.33 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.65%. Dolby Laboratories’s payout ratio is 48.53%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DLB shares. Rosenblatt Securities reissued 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 lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Barrington Research restated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, February 13th.

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.