Insider Selling: Dolby Laboratories (NYSE:DLB) CEO Sells 25,000 Shares of Stock

Key Points

• Dolby Laboratories CEO Kevin Yeaman sold 25,000 shares for $1,791,500, reducing his ownership by 17.89% to 114,725 shares.
• The company's stock is currently trading at $72.11, with a 12-month range of $68.24 to $89.66 and a market cap of $6.91 billion.
• Dolby recently reported a Q2 EPS of $0.78, exceeding expectations, and announced a quarterly dividend of $0.33, yielding 1.8% annually.

Dolby Laboratories (NYSE:DLB - Get Free Report) CEO Kevin J. Yeaman sold 25,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $71.66, for a total transaction of $1,791,500.00. Following the completion of the transaction, the chief executive officer directly owned 114,725 shares in the company, valued at $8,221,193.50. The trade was a 17.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Dolby Laboratories Stock Performance

DLB traded up $0.87 on Monday, reaching $72.45. The company had a trading volume of 454,467 shares, compared to its average volume of 511,707. The stock has a market cap of $6.94 billion, a P/E ratio of 26.54 and a beta of 0.93. Dolby Laboratories has a fifty-two week low of $68.24 and a fifty-two week high of $89.66. The company's fifty day moving average is $73.32 and its 200 day moving average is $75.03.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. The company had revenue of $315.55 million for the quarter, compared to the consensus estimate of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.The firm's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. On average, sell-side analysts expect that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Tuesday, August 12th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, August 12th. Dolby Laboratories's payout ratio is 48.35%.

Institutional Trading of Dolby Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of DLB. Vanguard Group Inc. boosted its holdings in shares of Dolby Laboratories by 7.1% during the 1st 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Dolby Laboratories by 18.3% during 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 purchasing an additional 882,716 shares in the last quarter. State Street Corp grew its holdings in shares of Dolby Laboratories by 8.7% during the second quarter. State Street Corp now owns 2,261,059 shares of the electronics maker's stock worth $167,906,000 after purchasing an additional 180,072 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Dolby Laboratories by 51.8% in the second quarter. AQR Capital Management LLC now owns 1,736,260 shares of the electronics maker's stock valued at $128,935,000 after buying an additional 592,282 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Dolby Laboratories by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,556,571 shares of the electronics maker's stock valued at $116,159,000 after buying an additional 30,057 shares during the last quarter. Institutional investors own 58.56% of the company's stock.

Analysts Set New Price Targets

DLB has been the topic of a number of recent research reports. Baird R W upgraded Dolby Laboratories to a "hold" rating in a research note on Friday, September 5th. Barrington Research reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, September 12th. Rosenblatt Securities reissued a "buy" rating and issued a $95.00 target price on shares of Dolby Laboratories in a report on Friday, August 1st. Robert W. Baird started coverage on shares of Dolby Laboratories in a research report on Friday, September 5th. They set a "neutral" rating and a $74.00 price target on the stock. Finally, Tigress Financial boosted their price objective on shares of Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $95.75.

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.