Dolby Laboratories, Inc. (NYSE:DLB) CAO Ryan Nicholson Sells 7,000 Shares

Dolby Laboratories, Inc. (NYSE:DLB) CAO Ryan Nicholson sold 7,000 shares of the business’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 transaction, the chief accounting officer now owns 29,758 shares in the company, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ryan Nicholson also recently made the following trade(s):

• On Tuesday, November 26th, Ryan Nicholson sold 10,500 shares of Dolby Laboratories stock. The stock was sold at an average price of $80.18, for a total value of $841,890.00.

Dolby Laboratories Stock Performance

Dolby Laboratories stock opened at $83.81 on Friday. The business’s 50-day simple moving average is $79.87 and its two-hundred day simple moving average is $75.90. The company has a market cap of $8.00 billion, a PE ratio of 30.81 and a beta of 0.98. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be issued 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 (DPR) is 48.53%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. 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. StockNews.com downgraded Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Barrington Research reiterated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Monday, January 27th.

Institutional Trading of Dolby Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of DLB. Bank of New York Mellon Corp grew its holdings in Dolby Laboratories by 64.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock worth $376,948,000 after acquiring an additional 1,887,518 shares during the period. Boston Trust Walden Corp grew its holdings in Dolby Laboratories by 185.3% during the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after acquiring an additional 698,283 shares during the period. Clifford Capital Partners LLC grew its holdings in Dolby Laboratories by 3,114.7% during the third quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after acquiring an additional 262,162 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Dolby Laboratories by 10,441,900.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock worth $8,123,000 after acquiring an additional 104,419 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Dolby Laboratories by 496.7% during the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock worth $7,823,000 after acquiring an additional 85,093 shares during the period. 58.56% of the stock is owned by institutional investors and hedge funds.

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.