Dolby Laboratories, Inc. (NYSE:DLB) SVP Sells $4,002,000.00 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling sold 50,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $80.04, for a total value of $4,002,000.00. Following the sale, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at $8,548,752.24. This represents a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dolby Laboratories Stock Down 2.7 %

DLB stock opened at $78.20 on Thursday. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $90.06. The company has a market cap of $7.46 billion, a P/E ratio of 29.07 and a beta of 0.98. The business’s fifty day moving average is $74.67 and its 200-day moving average is $75.94.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd will be paid a $0.33 dividend. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.32 annualized dividend and a yield of 1.69%. Dolby Laboratories’s dividend payout ratio is presently 44.28%.

Dolby Laboratories declared that its board has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to purchase up to 5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

DLB has been the topic of a number of research analyst reports. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Finally, Rosenblatt Securities boosted their price objective on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th.

Institutional Trading of Dolby Laboratories

Institutional investors and hedge funds have recently modified their holdings of the stock. First Affirmative Financial Network boosted its stake in Dolby Laboratories by 4.9% during the 2nd quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock worth $219,000 after acquiring an additional 129 shares during the last quarter. LRI Investments LLC boosted its position in shares of Dolby Laboratories by 6.0% during the second quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock worth $182,000 after purchasing an additional 130 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after buying an additional 146 shares during the period. Signaturefd LLC grew its holdings in shares of Dolby Laboratories by 5.1% in the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock valued at $251,000 after buying an additional 153 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its position in shares of Dolby Laboratories by 1.3% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock valued at $1,095,000 after buying an additional 174 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

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.