Insider Selling: Dolby Laboratories, Inc. (NYSE:DLB) EVP Sells 12,338 Shares of Stock

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

Dolby Laboratories Stock Down 1.7 %

Shares of DLB stock opened at $77.17 on Thursday. The firm has a market cap of $7.36 billion, a PE ratio of 28.48 and a beta of 0.98. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $87.12. The company’s fifty day simple moving average is $76.08 and its 200-day simple moving average is $75.74.

Dolby Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were issued a $0.33 dividend. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, December 3rd. This represents a $1.32 annualized dividend and a dividend yield of 1.71%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 48.71%.

Institutional Trading of Dolby Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC increased its holdings in Dolby Laboratories by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after buying an additional 15,546 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Dolby Laboratories by 22.0% in the 3rd quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker’s stock valued at $3,513,000 after acquiring an additional 8,509 shares during the period. Synovus Financial Corp increased its stake in shares of Dolby Laboratories by 10.8% during the 3rd quarter. Synovus Financial Corp now owns 32,062 shares of the electronics maker’s stock worth $2,454,000 after purchasing an additional 3,113 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Dolby Laboratories by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after purchasing an additional 63,293 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its stake in Dolby Laboratories by 4.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after purchasing an additional 63,589 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on DLB shares. 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. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective 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.

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.