Kevin J. Yeaman Sells 25,000 Shares of Dolby Laboratories (NYSE:DLB) Stock

Key Points

• CEO Kevin J. Yeaman sold 25,000 shares of Dolby Laboratories stock at an average price of $72.31, totaling approximately $1.8 million, resulting in a 17.89% decrease in his ownership.
• Dolby Laboratories recently reported a quarterly earnings per share of $0.78, exceeding expectations, with a revenue of $315.55 million, reflecting a 9.2% year-over-year growth.
• The company announced a quarterly dividend of $0.33 per share, with a payout ratio of 48.35%, and a dividend yield of 1.8%.

Dolby Laboratories (NYSE:DLB - Get Free Report) CEO Kevin J. Yeaman sold 25,000 shares of Dolby Laboratories stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $72.31, for a total value of $1,807,750.00. Following the transaction, the chief executive officer directly owned 114,725 shares of the company's stock, valued at approximately $8,295,764.75. The trade was a 17.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Dolby Laboratories Stock Performance

NYSE:DLB traded down $1.19 on Thursday, hitting $72.53. 374,508 shares of the stock were exchanged, compared to its average volume of 428,971. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 26.57 and a beta of 0.91. Dolby Laboratories has a 52 week low of $68.24 and a 52 week high of $89.66. The company's 50-day moving average price is $74.55 and its 200 day moving average price is $77.13.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. The firm had revenue of $315.55 million during the quarter, compared to analysts' expectations of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%. The company's quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. As a group, equities research analysts predict that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, August 12th. Dolby Laboratories's payout ratio is presently 48.35%.

Analyst Ratings Changes

DLB has been the subject of a number of analyst reports. Wall Street Zen cut Dolby Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Tigress Financial started coverage on Dolby Laboratories in a report on Thursday, May 15th. They issued a "buy" rating and a $112.00 price target for the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $95.00 price target on shares of Dolby Laboratories in a report on Friday, August 1st. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, May 2nd.

Hedge Funds Weigh In On Dolby Laboratories

Institutional investors have recently modified their holdings of the stock. Alpine Bank Wealth Management acquired a new position in shares of Dolby Laboratories during the 1st quarter worth about $25,000. MAI Capital Management grew its position in shares of Dolby Laboratories by 87.1% during the 1st quarter. MAI Capital Management now owns 348 shares of the electronics maker's stock worth $28,000 after buying an additional 162 shares during the period. Cheviot Value Management LLC acquired a new position in shares of Dolby Laboratories during the 1st quarter worth about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Dolby Laboratories during the 1st quarter worth about $29,000. Finally, Allworth Financial LP grew its position in shares of Dolby Laboratories by 590.4% during the 2nd quarter. Allworth Financial LP now owns 504 shares of the electronics maker's stock worth $37,000 after buying an additional 431 shares during the period. 58.56% of the stock is currently owned by institutional investors and hedge funds.

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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