Dolby Laboratories (NYSE:DLB) SVP Sells $198,420.00 in Stock

Dolby Laboratories (NYSE:DLB) SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $66.14, for a total value of $198,420.00. Following the transaction, the senior vice president directly owned 83,218 shares in the company, valued at $5,504,038.52. The trade was a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Shriram Revankar also recently made the following trade(s):

• On Friday, November 21st, Shriram Revankar sold 3,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.55, for a total value of $196,650.00.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $64.27 on Friday. The stock’s 50 day moving average is $64.58 and its 200 day moving average is $67.90. Dolby Laboratories has a one year low of $60.14 and a one year high of $84.15. The firm has a market cap of $6.14 billion, a P/E ratio of 25.92 and a beta of 0.86.

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

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a yield of 2.2%. Dolby Laboratories’s dividend payout ratio is 58.06%.

Wall Street Analysts Forecast Growth

DLB has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Monday, December 29th. Barrington Research dropped their price target on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, January 26th. Wall Street Zen cut 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 issued a $85.00 price objective on shares of Dolby Laboratories in a research note on Friday, January 30th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.75.

Institutional Investors Weigh In On Dolby Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Dolby Laboratories by 3.5% in the 1st quarter. Royal Bank of Canada now owns 68,367 shares of the electronics maker’s stock worth $5,491,000 after buying an additional 2,298 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Dolby Laboratories by 218.8% during the first quarter. Goldman Sachs Group Inc. now owns 249,574 shares of the electronics maker’s stock worth $20,043,000 after acquiring an additional 171,288 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Dolby Laboratories by 5.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,216 shares of the electronics maker’s stock worth $19,131,000 after purchasing an additional 12,598 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of Dolby Laboratories during the 1st quarter valued at $390,000. Finally, CWM LLC raised its stake in shares of Dolby Laboratories by 57.8% during the 2nd quarter. CWM LLC now owns 21,752 shares of the electronics maker’s stock worth $1,615,000 after purchasing an additional 7,967 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

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.