Dolby Laboratories, Inc. (NYSE:DLB) EVP Sells $963,351.04 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) EVP Mark Andrew Sherman sold 12,338 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total value of $963,351.04. Following the completion of the sale, the executive vice president now owns 62,397 shares in the company, valued at $4,871,957.76. This trade represents a 16.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Dolby Laboratories Stock Down 1.7 %

NYSE:DLB traded down $1.30 during trading hours on Wednesday, reaching $77.17. The company had a trading volume of 736,389 shares, compared to its average volume of 415,829. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $87.12. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 28.48 and a beta of 0.98. The business’s 50-day simple moving average is $76.08 and its two-hundred day simple moving average is $75.74.

Dolby Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio is 48.71%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Rosenblatt Securities upped their price target on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Barrington Research restated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Finally, StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th.

Institutional Investors Weigh In On Dolby Laboratories

A number of hedge funds have recently added to or reduced their stakes in DLB. Boston Trust Walden Corp grew its holdings in shares of 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 valued at $82,276,000 after buying an additional 698,283 shares during the last quarter. Clifford Capital Partners LLC boosted its stake in Dolby Laboratories by 3,114.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock valued at $20,707,000 after purchasing an additional 262,162 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Dolby Laboratories by 39.8% during the 2nd quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock worth $51,698,000 after purchasing an additional 185,884 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Dolby Laboratories by 27.0% in the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after purchasing an additional 168,744 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Dolby Laboratories by 16.2% in the second quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker’s stock valued at $49,690,000 after purchasing an additional 87,298 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

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.