Dolby Laboratories, Inc. (NYSE:DLB) SVP Sells $563,500.00 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling sold 7,000 shares of the firm’s 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 transaction, the senior vice president now directly owns 106,806 shares in the company, valued at $8,597,883. This trade represents a 6.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Dolby Laboratories Trading Down 2.7 %

Shares of DLB opened at $78.20 on Friday. The business’s 50 day moving average is $74.78 and its 200 day moving average is $75.96. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $90.06. The company has a market capitalization of $7.46 billion, a PE ratio of 28.86 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.32 annualized dividend and a dividend yield of 1.69%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio (DPR) is presently 44.28%.

Dolby Laboratories declared that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have commented on DLB shares. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Rosenblatt Securities raised their price objective 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. Finally, Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Wednesday, November 20th.

Hedge Funds Weigh In On Dolby Laboratories

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in shares of Dolby Laboratories by 398.8% during the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 331 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Dolby Laboratories in the second quarter worth about $37,000. GAMMA Investing LLC boosted its stake in Dolby Laboratories by 64.6% during the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after buying an additional 192 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Dolby Laboratories by 192.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock valued at $46,000 after buying an additional 379 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 146 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Company Profile

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.