Dolby Laboratories’ (DLB) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Dolby Laboratories (NYSE:DLB) in a research report report published on Friday, Benzinga reports. The brokerage currently has a $100.00 price objective on the electronics maker’s stock.

A number of other research firms have also recently commented on DLB. StockNews.com upgraded Dolby Laboratories from a hold rating to a buy rating in a report on Saturday, May 11th. Rosenblatt Securities reissued a buy rating and issued a $98.00 price objective on shares of Dolby Laboratories in a research note on Friday, June 7th.

Dolby Laboratories Trading Down 0.6 %

Shares of NYSE:DLB traded down $0.38 during midday trading on Friday, hitting $67.58. The company had a trading volume of 806,079 shares, compared to its average volume of 391,516. Dolby Laboratories has a 12 month low of $66.47 and a 12 month high of $90.06. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 34.48 and a beta of 0.99. The firm has a fifty day simple moving average of $78.43 and a 200 day simple moving average of $80.39.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Monday, August 19th will be paid a $0.30 dividend. The ex-dividend date is Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.78%. Dolby Laboratories’s dividend payout ratio is 61.22%.

Insider Activity at Dolby Laboratories

In related news, EVP Mark Andrew Sherman sold 2,283 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total value of $181,772.46. Following the completion of the transaction, the executive vice president now directly owns 58,325 shares in the company, valued at $4,643,836.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 39.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Dolby Laboratories by 1.7% in the first quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock worth $544,711,000 after acquiring an additional 107,713 shares during the period. Ninety One UK Ltd grew its stake in shares of Dolby Laboratories by 29.0% in the 4th quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock worth $221,685,000 after buying an additional 578,239 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Dolby Laboratories by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 2,324,244 shares of the electronics maker’s stock worth $194,702,000 after acquiring an additional 233,958 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Dolby Laboratories by 27.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after acquiring an additional 168,744 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Dolby Laboratories by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 681,152 shares of the electronics maker’s stock worth $58,702,000 after acquiring an additional 10,389 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

About Dolby Laboratories

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.