Dolby Laboratories (NYSE:DLB) CEO Kevin J. Yeaman Sells 39,875 Shares

Dolby Laboratories (NYSE:DLB - Get Free Report) CEO Kevin J. Yeaman sold 39,875 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $74.82, for a total transaction of $2,983,447.50. Following the completion of the sale, the chief executive officer owned 114,725 shares of the company's stock, valued at $8,583,724.50. This trade represents a 25.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Dolby Laboratories Trading Up 0.9%

DLB stock traded up $0.66 during mid-day trading on Thursday, hitting $75.67. 333,830 shares of the company were exchanged, compared to its average volume of 450,984. The business has a 50 day simple moving average of $75.16 and a 200-day simple moving average of $77.78. The stock has a market capitalization of $7.27 billion, a PE ratio of 28.56 and a beta of 0.91. Dolby Laboratories has a 1-year low of $66.35 and a 1-year 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 EPS for the quarter, topping the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.44% and a return on equity of 11.48%. The company had revenue of $369.56 million for the quarter, compared to analysts' expectations of $375.44 million. During the same period last year, the firm earned $1.27 earnings per share. The business's revenue for the quarter was up 1.4% on a year-over-year basis. Equities research analysts expect that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, May 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.74%. Dolby Laboratories's dividend payout ratio is presently 49.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $95.00 target price on shares of Dolby Laboratories in a research note on Friday, June 13th. Barrington Research restated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, May 2nd. Tigress Financial began coverage on shares of Dolby Laboratories in a research report on Thursday, May 15th. They set a "buy" rating and a $112.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, May 30th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in Dolby Laboratories by 18.3% in the first quarter. Bank of New York Mellon Corp now owns 5,709,193 shares of the electronics maker's stock valued at $458,505,000 after acquiring an additional 882,716 shares during the last quarter. Norges Bank bought a new position in Dolby Laboratories in the fourth quarter valued at approximately $55,356,000. Vanguard Group Inc. increased its stake in Dolby Laboratories by 7.1% in the first quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker's stock valued at $605,194,000 after acquiring an additional 502,110 shares during the last quarter. AQR Capital Management LLC increased its stake in Dolby Laboratories by 63.6% in the first quarter. AQR Capital Management LLC now owns 1,143,978 shares of the electronics maker's stock valued at $90,946,000 after acquiring an additional 444,718 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in Dolby Laboratories by 241,160.1% in the first quarter. Jones Financial Companies Lllp now owns 429,443 shares of the electronics maker's stock valued at $36,975,000 after acquiring an additional 429,265 shares during the last quarter. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Company Profile

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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