Ryan Nicholson Sells 10,500 Shares of Dolby Laboratories, Inc. (NYSE:DLB) Stock

Dolby Laboratories, Inc. (NYSE:DLB) CAO Ryan Nicholson sold 10,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total value of $841,890.00. Following the completion of the sale, the chief accounting officer now owns 24,364 shares in the company, valued at $1,953,505.52. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Dolby Laboratories Stock Down 2.7 %

NYSE:DLB opened at $78.20 on Friday. The business’s 50-day moving average price is $74.78 and its 200 day moving average price is $75.96. The firm has a market cap of $7.46 billion, a P/E ratio of 28.86 and a beta of 0.98. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $90.06.

Dolby Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.33 per share. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Tuesday, December 3rd. Dolby Laboratories’s payout ratio is presently 44.28%.

Dolby Laboratories declared that its board has initiated a share repurchase program on Wednesday, August 7th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the electronics maker to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DLB. Boston Trust Walden Corp grew its holdings in Dolby Laboratories by 185.3% during the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after acquiring an additional 698,283 shares during the period. Clifford Capital Partners LLC increased its stake in Dolby Laboratories by 3,114.7% in the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after purchasing an additional 262,162 shares in the last quarter. Acadian Asset Management LLC increased its stake in Dolby Laboratories by 39.8% in the 2nd quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock worth $51,698,000 after purchasing an additional 185,884 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Dolby Laboratories by 27.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after purchasing an additional 168,744 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Dolby Laboratories by 16.2% in the 2nd quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker’s stock worth $49,690,000 after purchasing an additional 87,298 shares in the last quarter. 58.56% of the stock is 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.