Dolby Laboratories, Inc. (NYSE:DLB) EVP Sells $1,125,300.00 in Stock

Dolby Laboratories, Inc. (NYSE:DLB - Get Free Report) EVP Mark Andrew Sherman sold 15,000 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $75.02, for a total value of $1,125,300.00. Following the completion of the sale, the executive vice president now owns 62,397 shares in the company, valued at approximately $4,681,022.94. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dolby Laboratories Stock Up 0.7%

Shares of DLB stock traded up $0.50 on Friday, reaching $74.96. The company's stock had a trading volume of 254,446 shares, compared to its average volume of 451,673. The company has a market capitalization of $7.20 billion, a P/E ratio of 27.56 and a beta of 0.93. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $89.66. The stock's 50 day simple moving average is $74.83 and its 200-day simple moving average is $78.61.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.05. The firm had revenue of $369.56 million for the quarter, compared to analysts' expectations of $375.44 million. Dolby Laboratories had a return on equity of 11.32% and a net margin of 19.97%. The company's revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.27 EPS. Research analysts expect that Dolby Laboratories, Inc. will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio is currently 49.81%.

Institutional Investors Weigh In On Dolby Laboratories

Several hedge funds have recently bought and sold shares of DLB. Savant Capital LLC raised its position in shares of Dolby Laboratories by 2.0% during the 4th quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker's stock valued at $490,000 after buying an additional 125 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in Dolby Laboratories by 0.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock valued at $1,525,000 after acquiring an additional 132 shares during the last quarter. Securian Asset Management Inc. increased its stake in Dolby Laboratories by 3.0% in the first quarter. Securian Asset Management Inc. now owns 4,648 shares of the electronics maker's stock valued at $373,000 after acquiring an additional 137 shares during the last quarter. Mather Group LLC. raised its position in Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after purchasing an additional 142 shares in the last quarter. Finally, Naples Global Advisors LLC lifted its stake in Dolby Laboratories by 0.4% during the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker's stock worth $2,791,000 after purchasing an additional 160 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on DLB. Tigress Financial assumed coverage on Dolby Laboratories in a research report on Thursday, May 15th. They issued a "buy" rating and a $112.00 price target for the company. Rosenblatt Securities cut their target price on Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Wall Street Zen upgraded Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Barrington Research restated an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, May 2nd.

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.

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