Insider Selling: Dolby Laboratories, Inc. (NYSE:DLB) CEO Sells 33,683 Shares of Stock

Dolby Laboratories, Inc. (NYSE:DLB - Get Free Report) CEO Kevin J. Yeaman sold 33,683 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $76.22, for a total transaction of $2,567,318.26. Following the transaction, the chief executive officer now owns 114,725 shares of the company's stock, valued at approximately $8,744,339.50. This represents a 22.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock traded down $1.26 during trading hours on Friday, reaching $73.97. The company's stock had a trading volume of 383,225 shares, compared to its average volume of 451,587. The firm has a 50 day moving average price of $74.73 and a 200-day moving average price of $78.49. The stock has a market cap of $7.11 billion, a P/E ratio of 27.19 and a beta of 0.93. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly 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 return on equity of 11.32% and a net margin of 19.97%. The company had revenue of $369.56 million during the quarter, compared to analyst estimates of $375.44 million. During the same quarter last year, the business posted $1.27 earnings per share. The firm's revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that Dolby Laboratories, Inc. will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories's dividend payout ratio (DPR) is currently 49.81%.

Institutional Trading of Dolby Laboratories

Several institutional investors have recently added to or reduced their stakes in DLB. Savant Capital LLC lifted its stake in shares of Dolby Laboratories by 2.0% during the 4th quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker's stock worth $490,000 after acquiring an additional 125 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Dolby Laboratories by 0.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock worth $1,525,000 after purchasing an additional 132 shares during the last quarter. Securian Asset Management Inc. boosted its stake in shares of Dolby Laboratories by 3.0% during the first quarter. Securian Asset Management Inc. now owns 4,648 shares of the electronics maker's stock valued at $373,000 after purchasing an additional 137 shares during the period. Naples Global Advisors LLC boosted its stake in shares of Dolby Laboratories by 0.4% during the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker's stock valued at $2,791,000 after purchasing an additional 160 shares during the period. Finally, MAI Capital Management grew its stake in Dolby Laboratories by 87.1% in the 1st 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. Institutional investors own 58.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DLB. Tigress Financial initiated 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. Rosenblatt Securities reissued a "buy" rating and set a $95.00 price target on shares of Dolby Laboratories in a research note on Friday. Wall Street Zen raised Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, May 2nd.

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.