BB&T Securities LLC Trims Stake in Dolby Laboratories, Inc. (NYSE:DLB)

BB&T Securities LLC reduced its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 24.4% in the third quarter, Holdings Channel reports. The institutional investor owned 6,336 shares of the electronics maker’s stock after selling 2,042 shares during the period. BB&T Securities LLC’s holdings in Dolby Laboratories were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Quest Capital Management Inc. ADV purchased a new stake in Dolby Laboratories during the third quarter valued at approximately $30,000. Venturi Wealth Management LLC purchased a new stake in Dolby Laboratories during the third quarter valued at approximately $31,000. Steward Partners Investment Advisory LLC increased its holdings in Dolby Laboratories by 176.2% during the third quarter. Steward Partners Investment Advisory LLC now owns 674 shares of the electronics maker’s stock valued at $43,000 after buying an additional 430 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Dolby Laboratories during the second quarter valued at approximately $71,000. Finally, TRUE Private Wealth Advisors purchased a new stake in Dolby Laboratories during the second quarter valued at approximately $84,000. 57.59% of the stock is owned by institutional investors and hedge funds.

DLB has been the subject of a number of research reports. Tigress Financial reaffirmed a “buy” rating on shares of Dolby Laboratories in a report on Wednesday, September 18th. ValuEngine raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. B. Riley raised shares of Dolby Laboratories from a “neutral” rating to a “buy” rating in a report on Monday. Dougherty & Co reaffirmed a “buy” rating on shares of Dolby Laboratories in a report on Monday. Finally, William Blair reiterated a “buy” rating on shares of Dolby Laboratories in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $77.33.

In other Dolby Laboratories news, CFO Lewis Chew sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $60.33, for a total value of $904,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ryan Nicholson sold 8,197 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $61.04, for a total transaction of $500,344.88. The disclosure for this sale can be found here. Corporate insiders own 40.23% of the company’s stock.

DLB opened at $65.68 on Thursday. The firm has a market cap of $6.65 billion, a P/E ratio of 27.37, a PEG ratio of 1.78 and a beta of 0.84. Dolby Laboratories, Inc. has a 1-year low of $56.09 and a 1-year high of $71.77. The company has a 50 day simple moving average of $64.11 and a two-hundred day simple moving average of $63.34.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

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Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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