Dolby Laboratories, Inc. (NYSE:DLB) SVP Sells $563,500.00 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling sold 7,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the transaction, the senior vice president now directly owns 106,806 shares in the company, valued at $8,597,883. This trade represents a 6.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dolby Laboratories Stock Up 0.0 %

DLB stock traded up $0.03 during trading on Tuesday, hitting $80.33. 464,810 shares of the company’s stock traded hands, compared to its average volume of 408,805. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $90.06. The stock has a fifty day moving average price of $74.50 and a two-hundred day moving average price of $75.96. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 29.64 and a beta of 0.98.

Dolby Laboratories announced that its Board of Directors has initiated a stock repurchase program on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.64%. Dolby Laboratories’s dividend payout ratio is 48.71%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Affirmative Financial Network boosted its stake in Dolby Laboratories by 4.9% during the 2nd quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock valued at $219,000 after purchasing an additional 129 shares during the period. LRI Investments LLC boosted its position in shares of Dolby Laboratories by 6.0% during the second quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock worth $182,000 after buying an additional 130 shares during the period. First Horizon Advisors Inc. grew its holdings in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after buying an additional 146 shares in the last quarter. Signaturefd LLC increased its position in Dolby Laboratories by 5.1% in the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock valued at $251,000 after acquiring an additional 153 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC raised its stake in Dolby Laboratories by 1.3% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock valued at $1,095,000 after acquiring an additional 174 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DLB. Barrington Research restated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Wednesday, November 20th. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Rosenblatt Securities raised their price objective on shares of Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th.

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.