Dolby Laboratories, Inc. (NYSE:DLB) CMO Todd Pendleton Sells 18,121 Shares of Stock

Dolby Laboratories, Inc. (NYSE:DLB) CMO Todd Pendleton sold 18,121 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the transaction, the chief marketing officer now owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Dolby Laboratories Stock Performance

Dolby Laboratories stock opened at $81.42 on Friday. The stock’s 50 day simple moving average is $80.61 and its two-hundred day simple moving average is $76.31. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 29.94 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.62%. Dolby Laboratories’s payout ratio is currently 48.53%.

Institutional Trading of Dolby Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Savant Capital LLC grew its stake in shares of Dolby Laboratories by 2.0% in the 4th quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock worth $490,000 after buying an additional 125 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Dolby Laboratories by 0.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker’s stock worth $1,525,000 after buying an additional 132 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Dolby Laboratories by 5.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock worth $201,000 after buying an additional 136 shares during the last quarter. Mather Group LLC. boosted its stake in Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, February 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st.

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.