Dolby Laboratories (NYSE:DLB – Get Free Report) CAO Ryan Nicholson sold 1,348 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $62.04, for a total value of $83,629.92. Following the transaction, the chief accounting officer owned 35,636 shares of the company’s stock, valued at $2,210,857.44. This represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Ryan Nicholson also recently made the following trade(s):
- On Tuesday, August 4th, Ryan Nicholson sold 357 shares of Dolby Laboratories stock. The shares were sold at an average price of $60.63, for a total transaction of $21,644.91.
Dolby Laboratories Stock Down 0.0%
Shares of Dolby Laboratories stock opened at $61.33 on Thursday. Dolby Laboratories has a 12-month low of $48.26 and a 12-month high of $75.66. The stock has a market capitalization of $5.74 billion, a P/E ratio of 26.10 and a beta of 0.80. The company has a 50-day simple moving average of $53.18 and a 200 day simple moving average of $58.45.
Dolby Laboratories Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Tuesday, August 11th will be given a $0.36 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $1.44 annualized dividend and a yield of 2.3%. Dolby Laboratories’s payout ratio is presently 61.28%.
Dolby Laboratories declared that its board has approved a share repurchase program on Thursday, July 30th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
Analysts Set New Price Targets
DLB has been the topic of several research reports. Barrington Research reiterated an “outperform” rating and set a $90.00 price target on shares of Dolby Laboratories in a research report on Monday, June 15th. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Dolby Laboratories in a research report on Friday, July 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Wednesday, June 24th. Finally, Wall Street Zen cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dolby Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.75.
Get Our Latest Stock Analysis on DLB
Institutional Investors Weigh In On Dolby Laboratories
Institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp raised its position in shares of Dolby Laboratories by 34.7% during the 4th quarter. Fifth Third Bancorp now owns 746 shares of the electronics maker’s stock valued at $48,000 after acquiring an additional 192 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Dolby Laboratories during the 3rd quarter worth approximately $56,000. iSAM Funds UK Ltd acquired a new position in Dolby Laboratories during the third quarter valued at approximately $68,000. Quarry LP increased its stake in Dolby Laboratories by 1,486.7% in the fourth quarter. Quarry LP now owns 1,190 shares of the electronics maker’s stock valued at $76,000 after purchasing an additional 1,115 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Dolby Laboratories by 48.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,232 shares of the electronics maker’s stock worth $79,000 after purchasing an additional 402 shares during the period. 58.56% of the stock is owned by institutional investors.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.
Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.
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