Dolby Laboratories’ (DLB) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Dolby Laboratories (NYSE:DLB) in a research report released on Friday morning, Benzinga reports. Rosenblatt Securities currently has a $98.00 price objective on the electronics maker’s stock.

Other equities analysts have also recently issued research reports about the stock. StockNews.com started coverage on shares of Dolby Laboratories in a research note on Thursday, October 5th. They issued a hold rating on the stock. TheStreet cut shares of Dolby Laboratories from a b rating to a c+ rating in a report on Friday, August 4th.

Dolby Laboratories Trading Up 2.6 %

Dolby Laboratories stock opened at $83.66 on Friday. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 37.18 and a beta of 1.00. The company’s 50-day moving average price is $81.95 and its two-hundred day moving average price is $83.30. Dolby Laboratories has a 52 week low of $67.44 and a 52 week high of $91.01.

Dolby Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 28th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 27th. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 1.43%. Dolby Laboratories’s payout ratio is 48.00%.

Insider Activity

In other news, CEO Kevin J. Yeaman sold 9,030 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $82.32, for a total value of $743,349.60. Following the transaction, the chief executive officer now owns 51,879 shares of the company’s stock, valued at $4,270,679.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 18,060 shares of Dolby Laboratories stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $82.62, for a total transaction of $1,492,117.20. Following the sale, the chief executive officer now owns 51,879 shares in the company, valued at $4,286,242.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin J. Yeaman sold 9,030 shares of Dolby Laboratories stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $82.32, for a total transaction of $743,349.60. Following the sale, the chief executive officer now owns 51,879 shares in the company, valued at approximately $4,270,679.28. The disclosure for this sale can be found here. Insiders have sold a total of 33,979 shares of company stock valued at $2,816,967 over the last 90 days. 39.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dolby Laboratories

A number of institutional investors have recently bought and sold shares of DLB. Vanguard Group Inc. grew its holdings in shares of Dolby Laboratories by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 6,257,157 shares of the electronics maker’s stock worth $489,435,000 after purchasing an additional 99,453 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Dolby Laboratories by 3.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,265,758 shares of the electronics maker’s stock valued at $449,801,000 after purchasing an additional 154,954 shares during the last quarter. Morgan Stanley raised its position in shares of Dolby Laboratories by 11.9% in the 3rd quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock valued at $388,556,000 after acquiring an additional 523,250 shares during the period. BlackRock Inc. raised its position in shares of Dolby Laboratories by 1.6% in the 2nd quarter. BlackRock Inc. now owns 3,167,627 shares of the electronics maker’s stock valued at $265,067,000 after acquiring an additional 48,773 shares during the period. Finally, Ninety One UK Ltd raised its position in shares of Dolby Laboratories by 0.3% in the 3rd quarter. Ninety One UK Ltd now owns 1,994,107 shares of the electronics maker’s stock valued at $158,053,000 after acquiring an additional 6,611 shares during the period. Institutional investors and hedge funds own 56.37% of the company’s stock.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. 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.