Dolby Laboratories (NYSE:DLB - Get Free Report) CEO Kevin J. Yeaman sold 25,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $74.02, for a total transaction of $1,850,500.00. Following the completion of the transaction, the chief executive officer now owns 114,725 shares in the company, valued at $8,491,944.50. The trade was a 17.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Dolby Laboratories Price Performance
Shares of DLB stock traded up $0.77 during trading hours on Thursday, hitting $74.87. The company had a trading volume of 359,191 shares, compared to its average volume of 453,236. The stock has a market capitalization of $7.19 billion, a PE ratio of 28.25 and a beta of 0.93. The company's fifty day moving average is $74.92 and its 200 day moving average is $78.14. Dolby Laboratories has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.
Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.05. Dolby Laboratories had a return on equity of 11.48% and a net margin of 19.44%. The company had revenue of $369.56 million for the quarter, compared to analyst estimates of $375.44 million. During the same quarter in the previous year, the company earned $1.27 earnings per share. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current year.
Dolby Laboratories Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.76%. The ex-dividend date was Tuesday, May 13th. Dolby Laboratories's payout ratio is 49.81%.
Wall Street Analyst Weigh In
A number of research firms recently commented on DLB. Wall Street Zen upgraded Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Rosenblatt Securities restated a "buy" rating and issued a $95.00 target price on shares of Dolby Laboratories in a research report on Friday, June 13th. Barrington Research reiterated an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Friday, May 2nd. Finally, Tigress Financial assumed coverage on Dolby Laboratories in a research report on Thursday, May 15th. They set a "buy" rating and a $112.00 price objective for the company.
Check Out Our Latest Analysis on DLB
Hedge Funds Weigh In On Dolby Laboratories
Institutional investors have recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in shares of Dolby Laboratories in the first quarter valued at approximately $25,000. Cheviot Value Management LLC purchased a new position in Dolby Laboratories in the 1st quarter valued at approximately $27,000. MAI Capital Management grew its stake in shares of Dolby Laboratories by 87.1% in the first quarter. MAI Capital Management now owns 348 shares of the electronics maker's stock worth $28,000 after acquiring an additional 162 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Dolby Laboratories during the first quarter worth $29,000. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of Dolby Laboratories in the first quarter valued at $51,000. 58.56% of the stock is owned by institutional investors and hedge funds.
Dolby Laboratories Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Dolby Laboratories, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Dolby Laboratories wasn't on the list.
While Dolby Laboratories currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
