Dolby Laboratories (NYSE:DLB) CAO Ryan Nicholson Sells 1,348 Shares

Key Points

• Dolby Laboratories CAO Ryan Nicholson sold 1,348 shares at an average price of $62.04, generating $83,629.92 and reducing his direct ownership by 3.64% to 35,636 shares. He also sold 357 shares the previous week.
• Dolby reported quarterly EPS of $0.69, beating estimates of $0.67, while revenue of $305 million fell short of expectations and declined 3.3% year over year. Shares traded near $61.33, with a market capitalization of approximately $5.74 billion.
• The company approved a $350 million share-repurchase program covering up to 7% of outstanding shares and declared a quarterly dividend of $0.36 per share, representing a 2.3% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $90.75.

Dolby Laboratories (NYSE:DLB - Get Free Report) CAO Ryan Nicholson sold 1,348 shares of Dolby Laboratories stock in a transaction on Monday, August 10th. The stock was sold at an average price of $62.04, for a total transaction of $83,629.92. Following the transaction, the chief accounting officer directly owned 35,636 shares of the company's stock, valued at $2,210,857.44. The trade was a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Ryan Nicholson also recently made the following trade(s):

• On Tuesday, August 4th, Ryan Nicholson sold 357 shares of Dolby Laboratories stock. The shares were sold at an average price of $60.63, for a total transaction of $21,644.91.

Dolby Laboratories Price Performance

Shares of DLB traded down $0.03 during midday trading on Wednesday, hitting $61.33. The stock had a trading volume of 621,160 shares, compared to its average volume of 826,293. The stock's 50 day moving average is $53.05 and its 200 day moving average is $58.46. The firm has a market cap of $5.74 billion, a PE ratio of 26.10 and a beta of 0.80. Dolby Laboratories has a 1 year low of $48.26 and a 1 year high of $75.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The electronics maker reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.02. The firm had revenue of $305.00 million during the quarter, compared to analysts' expectations of $311.96 million. Dolby Laboratories had a net margin of 16.70% and a return on equity of 11.08%. The firm's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 EPS. Dolby Laboratories has set its FY 2026 guidance at 4.250-4.400 EPS and its Q4 2026 guidance at 1.130-1.280 EPS. As a group, equities research analysts expect that Dolby Laboratories will post 3.24 earnings per share for the current fiscal year.

Dolby Laboratories declared that its board has approved a share repurchase plan on Thursday, July 30th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.3%. Dolby Laboratories's dividend payout ratio is currently 61.28%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DLB shares. Rosenblatt Securities restated a "buy" rating and set a $85.00 price objective on shares of Dolby Laboratories in a report on Friday, July 31st. Weiss Ratings restated a "hold (c-)" rating on shares of Dolby Laboratories in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of Dolby Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Barrington Research reissued an "outperform" rating and issued a $90.00 price objective on shares of Dolby Laboratories in a research report on Monday, June 15th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $90.75.

Institutional Trading of Dolby Laboratories

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of Dolby Laboratories by 3.5% in the 1st quarter. Royal Bank of Canada now owns 68,367 shares of the electronics maker's stock valued at $5,491,000 after purchasing an additional 2,298 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Dolby Laboratories by 218.8% during the first quarter. Goldman Sachs Group Inc. now owns 249,574 shares of the electronics maker's stock valued at $20,043,000 after purchasing an additional 171,288 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Dolby Laboratories by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,216 shares of the electronics maker's stock valued at $19,131,000 after purchasing an additional 12,598 shares in the last quarter. Focus Partners Wealth purchased a new position in Dolby Laboratories during the first quarter valued at approximately $390,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Dolby Laboratories by 273.3% during the second quarter. EverSource Wealth Advisors LLC now owns 2,598 shares of the electronics maker's stock valued at $193,000 after buying an additional 1,902 shares during the period. 58.56% of the stock is owned by hedge funds and other institutional investors.

About Dolby Laboratories

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source