B. Riley Wealth Advisors Inc. Has $200,000 Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 26.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,632 shares of the electronics maker’s stock after selling 945 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Dolby Laboratories were worth $200,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new position in shares of Dolby Laboratories in the second quarter worth about $37,000. Whittier Trust Co. of Nevada Inc. raised its position in Dolby Laboratories by 192.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock worth $46,000 after purchasing an additional 379 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after buying an additional 146 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Dolby Laboratories in the 3rd quarter valued at $93,000. Finally, Blue Trust Inc. increased its stake in shares of Dolby Laboratories by 234.3% in the 3rd quarter. Blue Trust Inc. now owns 1,384 shares of the electronics maker’s stock valued at $110,000 after buying an additional 970 shares during the period. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Down 0.2 %

NYSE:DLB opened at $77.29 on Monday. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $87.12. The stock’s fifty day simple moving average is $76.23 and its 200-day simple moving average is $75.69. The firm has a market capitalization of $7.38 billion, a P/E ratio of 28.52 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.33 per share. 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 1.71%. The ex-dividend date was Tuesday, December 3rd. Dolby Laboratories’s payout ratio is presently 48.71%.

Insider Activity

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04. Following the transaction, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $4,871,957.76. The trade was a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John D. Couling sold 7,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the sale, the senior vice president now owns 106,806 shares of the company’s stock, valued at $8,597,883. This trade represents a 6.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,429 shares of company stock valued at $12,991,048 in the last ninety days. 39.54% of the stock is owned by insiders.

Analyst Ratings Changes

DLB has been the topic of several recent research reports. Rosenblatt Securities raised their price target on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Finally, Barrington Research reissued an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Wednesday, November 20th.

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.