Dolby Laboratories (NYSE:DLB) CAO Sells $177,035.46 in Stock

Dolby Laboratories (NYSE:DLB) CAO Ryan Nicholson sold 2,667 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $66.38, for a total transaction of $177,035.46. Following the transaction, the chief accounting officer owned 36,956 shares of the company’s stock, valued at approximately $2,453,139.28. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Dolby Laboratories Price Performance

NYSE DLB traded down $2.26 during trading on Tuesday, hitting $63.76. The company’s stock had a trading volume of 815,095 shares, compared to its average volume of 865,044. The business’s 50 day simple moving average is $64.79 and its 200-day simple moving average is $67.99. The company has a market cap of $6.09 billion, a PE ratio of 25.71 and a beta of 0.86. Dolby Laboratories has a fifty-two week low of $60.14 and a fifty-two week high of $85.21.

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

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, February 10th. Dolby Laboratories’s dividend payout ratio is 58.06%.

Institutional Trading of Dolby Laboratories

Several large investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Dolby Laboratories by 7.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,777 shares of the electronics maker’s stock valued at $1,172,000 after purchasing an additional 1,146 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Dolby Laboratories in the third quarter valued at approximately $615,000. Campbell & CO Investment Adviser LLC increased its holdings in Dolby Laboratories by 193.2% in the second quarter. Campbell & CO Investment Adviser LLC now owns 17,275 shares of the electronics maker’s stock valued at $1,283,000 after buying an additional 11,384 shares during the last quarter. Alps Advisors Inc. lifted its stake in Dolby Laboratories by 6.7% during the third quarter. Alps Advisors Inc. now owns 281,532 shares of the electronics maker’s stock worth $20,374,000 after purchasing an additional 17,592 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of Dolby Laboratories by 787.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 27,526 shares of the electronics maker’s stock valued at $1,992,000 after buying an additional 24,423 shares during the last quarter. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DLB. Weiss Ratings reiterated a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Monday, December 29th. Wall Street Zen downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Dolby Laboratories in a report on Friday, January 30th. Finally, Barrington Research dropped their target price on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.75.

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.