Dolby Laboratories, Inc. (DLB) to Issue Quarterly Dividend of $0.33 on February 19th

Dolby Laboratories, Inc. (NYSE:DLB) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Investors of record on Tuesday, February 11th will be given a dividend of 0.33 per share by the electronics maker on Wednesday, February 19th. This represents a $1.32 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Tuesday, February 11th.

Dolby Laboratories has increased its dividend payment by an average of 10.6% per year over the last three years. Dolby Laboratories has a dividend payout ratio of 30.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Dolby Laboratories to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 42.2%.

Dolby Laboratories Stock Up 8.2 %

NYSE:DLB opened at $87.20 on Friday. The company has a market cap of $8.32 billion, a P/E ratio of 32.06 and a beta of 0.98. The firm’s 50 day moving average is $79.29 and its two-hundred day moving average is $75.73. Dolby Laboratories has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Insider Buying and Selling at Dolby Laboratories

In related news, Director Peter C. Gotcher sold 6,079 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $78.96, for a total value of $479,997.84. Following the completion of the transaction, the director now owns 37,593 shares of the company’s stock, valued at approximately $2,968,343.28. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John D. Couling sold 50,000 shares of the firm’s stock in a transaction that occurred 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 owns 106,806 shares of the company’s stock, valued at approximately $8,548,752.24. This trade represents a 31.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 135,917 shares of company stock valued at $10,877,739 over the last 90 days. 38.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barrington Research restated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Monday. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Thursday. Finally, StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th.

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.