Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling Sells 7,000 Shares

Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling sold 7,000 shares of Dolby Laboratories stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.50, for a total transaction of $563,500.00. Following the completion of the transaction, the senior vice president now directly owns 106,806 shares in the company, valued at approximately $8,597,883. The trade was a 6.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dolby Laboratories Price Performance

Shares of NYSE DLB opened at $80.33 on Wednesday. The company’s 50-day moving average is $74.50 and its 200 day moving average is $75.96. The stock has a market capitalization of $7.66 billion, a P/E ratio of 29.64 and a beta of 0.98. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $90.06.

Dolby Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.64%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio is presently 48.71%.

Dolby Laboratories announced that its board has approved a stock repurchase program on Wednesday, August 7th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the electronics maker to buy up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on DLB shares. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Wednesday, November 20th. Finally, Rosenblatt Securities boosted their target price on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th.

Institutional Investors Weigh In On Dolby Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Affirmative Financial Network grew its stake in shares of Dolby Laboratories by 4.9% in the 2nd quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock worth $219,000 after buying an additional 129 shares during the last quarter. LRI Investments LLC raised its position in shares of Dolby Laboratories by 6.0% in the 2nd quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock worth $182,000 after purchasing an additional 130 shares during the last quarter. First Horizon Advisors Inc. grew its position in Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 146 shares during the last quarter. Signaturefd LLC increased its stake in Dolby Laboratories by 5.1% during the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock valued at $251,000 after purchasing an additional 153 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC raised its holdings in Dolby Laboratories by 1.3% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock worth $1,095,000 after buying an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

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.