Dolby Laboratories (NYSE:DLB) Given “Outperform” Rating at Barrington Research

Barrington Research restated their outperform rating on shares of Dolby Laboratories (NYSE:DLB) in a report issued on Thursday,Benzinga reports. The firm currently has a $100.00 price target on the electronics maker’s stock.

A number of other brokerages also recently issued reports on DLB. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, January 30th.

Dolby Laboratories Stock Performance

Shares of DLB opened at $84.26 on Thursday. Dolby Laboratories has a 1 year low of $66.35 and a 1 year high of $89.66. The stock has a market capitalization of $8.04 billion, a PE ratio of 30.98 and a beta of 0.98. The stock has a 50-day simple moving average of $80.17 and a 200-day simple moving average of $76.06.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.57%. The ex-dividend date is Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Insider Buying and Selling

In other Dolby Laboratories news, CAO Ryan Nicholson sold 7,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the sale, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Gotcher sold 6,079 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the transaction, the director now owns 37,593 shares of the company’s stock, valued at $2,968,343.28. This trade represents a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,917 shares of company stock valued at $14,861,429 over the last ninety days. Corporate insiders own 38.39% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

A number of large investors have recently modified their holdings of DLB. CWM LLC grew its holdings in Dolby Laboratories by 27.9% during the 3rd quarter. CWM LLC now owns 3,978 shares of the electronics maker’s stock worth $304,000 after acquiring an additional 868 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Dolby Laboratories by 12.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 17,506 shares of the electronics maker’s stock worth $1,340,000 after buying an additional 1,957 shares in the last quarter. Creative Planning lifted its stake in shares of Dolby Laboratories by 7.5% in the 3rd quarter. Creative Planning now owns 4,094 shares of the electronics maker’s stock worth $313,000 after acquiring an additional 286 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its stake in Dolby Laboratories by 1.5% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 14,026 shares of the electronics maker’s stock valued at $1,073,000 after buying an additional 209 shares in the last quarter. Finally, Cardinal Capital Management increased its holdings in shares of Dolby Laboratories by 13.0% in the third quarter. Cardinal Capital Management now owns 40,180 shares of the electronics maker’s stock valued at $3,075,000 after buying an additional 4,612 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

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.