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

Dolby Laboratories, Inc. (NYSE:DLB) CMO Todd Pendleton sold 18,121 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Dolby Laboratories Price Performance

DLB stock traded down $0.90 during trading on Friday, hitting $81.42. 646,093 shares of the stock traded hands, compared to its average volume of 481,564. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The firm’s 50 day moving average is $80.56 and its two-hundred day moving average is $76.25. 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 Dividend Announcement

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

Institutional Trading of Dolby Laboratories

Institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its holdings in shares of Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 163 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 301 shares during the period. Mather Group LLC. raised 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 worth $41,000 after acquiring an additional 142 shares during the period. Headlands Technologies LLC bought a new stake in Dolby Laboratories during the 4th quarter worth approximately $57,000. Finally, GAMMA Investing LLC raised its stake in Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock worth $61,000 after acquiring an additional 525 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Analysts Set New Price Targets

DLB has been the topic of a number of recent research reports. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, February 13th. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th.

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.