Rosenblatt Securities Reiterates Buy Rating for Dolby Laboratories (NYSE:DLB)

Rosenblatt Securities restated their buy rating on shares of Dolby Laboratories (NYSE:DLB) in a research report report published on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $100.00 price objective on the electronics maker’s stock.

DLB has been the subject of several other reports. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Monday.

Dolby Laboratories Stock Performance

Shares of NYSE:DLB opened at $87.20 on Thursday. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 32.06 and a beta of 0.98. Dolby Laboratories has a one year low of $66.35 and a one year high of $89.66. The company has a 50-day simple moving average of $79.29 and a 200-day simple moving average of $75.73.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.51%. Dolby Laboratories’s dividend payout ratio (DPR) is 48.53%.

Insider Buying and Selling

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04. Following the sale, the executive vice president now directly owns 62,397 shares in the company, valued at $4,871,957.76. The trade was a 16.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John D. Couling sold 7,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the transaction, the senior vice president now directly owns 106,806 shares in the company, valued at approximately $8,597,883. This represents a 6.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 135,917 shares of company stock valued at $10,877,739. Company insiders own 38.39% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Dolby Laboratories by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock worth $117,767,000 after acquiring an additional 63,293 shares in the last quarter. Lord Abbett & CO. LLC increased its position in Dolby Laboratories by 5.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after purchasing an additional 15,546 shares during the last quarter. Barclays PLC grew its stake in shares of Dolby Laboratories by 80.5% in the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock valued at $2,544,000 after buying an additional 14,825 shares in the last quarter. Boston Trust Walden Corp increased its holdings in Dolby Laboratories by 185.3% in the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after buying an additional 698,283 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Dolby Laboratories in the third quarter valued at approximately $3,031,000. 58.56% of the stock is currently owned by institutional investors.

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.