Insider Selling: Dolby Laboratories, Inc. (NYSE:DLB) CMO Sells $1,517,633.75 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Dolby Laboratories Trading Down 1.1 %

DLB stock opened at $81.42 on Monday. The stock has a market capitalization of $7.77 billion, a PE ratio of 29.94 and a beta of 0.98. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The stock’s 50 day simple moving average is $80.61 and its 200 day simple moving average is $76.35.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.62%. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, February 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st.

Institutional Investors Weigh In On Dolby Laboratories

A number of hedge funds have recently added to or reduced their stakes in the stock. Vise Technologies Inc. purchased a new stake in Dolby Laboratories during the 4th quarter valued at $308,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Dolby Laboratories by 3.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 225,618 shares of the electronics maker’s stock valued at $17,621,000 after buying an additional 6,640 shares during the last quarter. Squarepoint Ops LLC raised its stake in Dolby Laboratories by 247.2% during the 4th quarter. Squarepoint Ops LLC now owns 191,675 shares of the electronics maker’s stock valued at $14,970,000 after buying an additional 136,465 shares during the last quarter. Two Sigma Advisers LP raised its stake in Dolby Laboratories by 20.4% during the 4th quarter. Two Sigma Advisers LP now owns 29,500 shares of the electronics maker’s stock valued at $2,304,000 after buying an additional 5,000 shares during the last quarter. Finally, Teza Capital Management LLC purchased a new stake in Dolby Laboratories during the 4th quarter valued at $588,000. 58.56% of the stock is currently 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.