Dolby Laboratories, Inc. (NYSE:DLB) EVP Mark Andrew Sherman Sells 15,000 Shares

Dolby Laboratories, Inc. (NYSE:DLB) EVP Mark Andrew Sherman sold 15,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $75.02, for a total transaction of $1,125,300.00. Following the sale, the executive vice president now owns 62,397 shares in the company, valued at $4,681,022.94. This represents a 19.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Dolby Laboratories Trading Up 0.7%

DLB stock opened at $74.96 on Friday. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66. The company has a market capitalization of $7.20 billion, a P/E ratio of 27.56 and a beta of 0.93. The firm has a 50 day simple moving average of $74.71 and a 200-day simple moving average of $78.61.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Thursday, May 1st. The electronics maker reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The business had revenue of $369.56 million during the quarter, compared to the consensus estimate of $375.44 million. During the same quarter last year, the company earned $1.27 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, research analysts predict that Dolby Laboratories, Inc. will post 2.94 EPS for the current year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 13th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, May 13th. Dolby Laboratories’s payout ratio is currently 49.81%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Tigress Financial assumed coverage on shares of Dolby Laboratories in a research note on Thursday, May 15th. They set a “buy” rating and a $112.00 price objective on the stock. Wall Street Zen upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, May 2nd. Finally, Rosenblatt Securities dropped their price objective on shares of Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd.

Institutional Trading of Dolby Laboratories

Hedge funds have recently made changes to their positions in the stock. Alpine Bank Wealth Management acquired a new position in Dolby Laboratories in the first quarter worth $25,000. Cheviot Value Management LLC acquired a new position in Dolby Laboratories in the first quarter worth $27,000. MAI Capital Management boosted its holdings in Dolby Laboratories by 87.1% in the first quarter. MAI Capital Management now owns 348 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 162 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Dolby Laboratories in the first quarter worth $29,000. Finally, Mather Group LLC. boosted its holdings in Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds 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.