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Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) EVP Mark Andrew Sherman sold 2,334 shares of the company’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $70.66, for a total value of $164,920.44. Following the sale, the executive vice president now owns 67,107 shares in the company, valued at approximately $4,741,780.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Mark Andrew Sherman also recently made the following trade(s):
- On Monday, December 19th, Mark Andrew Sherman sold 5,070 shares of Dolby Laboratories stock. The stock was sold at an average price of $69.84, for a total value of $354,088.80.
Dolby Laboratories Stock Performance
DLB traded down $2.24 during trading hours on Monday, reaching $68.56. The company’s stock had a trading volume of 465,068 shares, compared to its average volume of 488,018. Dolby Laboratories, Inc. has a 52 week low of $61.55 and a 52 week high of $96.85. The company’s 50-day moving average is $69.20 and its 200-day moving average is $72.08. The firm has a market cap of $6.58 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98.
Dolby Laboratories (NYSE:DLB – Get Rating) last posted its quarterly earnings results on Thursday, November 17th. The electronics maker reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.14). Dolby Laboratories had a net margin of 14.68% and a return on equity of 9.19%. The business had revenue of $278.20 million during the quarter, compared to the consensus estimate of $303.58 million. Equities analysts anticipate that Dolby Laboratories, Inc. will post 2.43 earnings per share for the current fiscal year.
Dolby Laboratories Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Investors of record on Wednesday, November 30th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, November 29th. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.25. Dolby Laboratories’s dividend payout ratio is 60.00%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Global Investments grew its holdings in Dolby Laboratories by 0.4% in the 3rd quarter. Summit Global Investments now owns 40,397 shares of the electronics maker’s stock valued at $2,632,000 after buying an additional 146 shares in the last quarter. Heritage Wealth Management LLC grew its holdings in Dolby Laboratories by 4.1% in the 3rd quarter. Heritage Wealth Management LLC now owns 3,745 shares of the electronics maker’s stock valued at $244,000 after buying an additional 147 shares in the last quarter. IFP Advisors Inc grew its holdings in Dolby Laboratories by 6.8% in the 3rd quarter. IFP Advisors Inc now owns 2,453 shares of the electronics maker’s stock valued at $156,000 after buying an additional 157 shares in the last quarter. Cardinal Capital Management grew its holdings in Dolby Laboratories by 0.6% in the 2nd quarter. Cardinal Capital Management now owns 27,872 shares of the electronics maker’s stock valued at $1,995,000 after buying an additional 161 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in Dolby Laboratories by 3.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,954 shares of the electronics maker’s stock valued at $409,000 after buying an additional 164 shares in the last quarter. 59.13% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on DLB shares. Tigress Financial dropped their price objective on Dolby Laboratories from $128.00 to $116.00 and set a “buy” rating on the stock in a research note on Friday, October 14th. StockNews.com cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, November 21st. Barrington Research cut Dolby Laboratories from an “outperform” rating to a “market perform” rating in a research note on Friday, November 18th. Finally, Rosenblatt Securities dropped their price objective on Dolby Laboratories from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, November 7th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.00.
Dolby Laboratories Company Profile
(Get Rating)
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. 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.
Further Reading
- Get a free copy of the StockNews.com research report on Dolby Laboratories (DLB)
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