Dolby Laboratories (NYSE:DLB) CAO Sells $177,035.46 in Stock

Dolby Laboratories (NYSE:DLB) CAO Ryan Nicholson sold 2,667 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $66.38, for a total value of $177,035.46. Following the completion of the transaction, the chief accounting officer directly owned 36,956 shares in the company, valued at approximately $2,453,139.28. The trade was a 6.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Dolby Laboratories Stock Performance

NYSE:DLB traded down $2.26 during mid-day trading on Tuesday, reaching $63.76. The stock had a trading volume of 815,095 shares, compared to its average volume of 865,044. Dolby Laboratories has a twelve month low of $60.14 and a twelve month high of $85.21. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 25.71 and a beta of 0.86. The business has a 50 day simple moving average of $64.79 and a 200 day simple moving average of $67.99.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The company had revenue of $346.71 million during the quarter, compared to analysts’ expectations of $341.26 million. During the same period last year, the company posted $1.14 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a yield of 2.3%. Dolby Laboratories’s dividend payout ratio (DPR) is 58.06%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DLB. Barrington Research lowered their price objective on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, January 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a research report on Monday, December 29th. Wall Street Zen downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a research note on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Dolby Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $90.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC raised its stake in shares of Dolby Laboratories by 4.1% in the 2nd quarter. Boothbay Fund Management LLC now owns 4,020 shares of the electronics maker’s stock valued at $299,000 after acquiring an additional 157 shares in the last quarter. Mitchell & Pahl Private Wealth LLC grew its position in Dolby Laboratories by 1.1% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 15,733 shares of the electronics maker’s stock worth $1,139,000 after buying an additional 170 shares in the last quarter. Covestor Ltd raised its stake in shares of Dolby Laboratories by 6.0% in the fourth quarter. Covestor Ltd now owns 3,088 shares of the electronics maker’s stock valued at $198,000 after purchasing an additional 175 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Dolby Laboratories by 34.7% during the fourth quarter. Fifth Third Bancorp now owns 746 shares of the electronics maker’s stock valued at $48,000 after purchasing an additional 192 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Dolby Laboratories by 13.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,587 shares of the electronics maker’s stock valued at $118,000 after acquiring an additional 194 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.