Insider Selling: Dolby Laboratories (NYSE:DLB) SVP Sells 3,000 Shares of Stock

Dolby Laboratories (NYSE:DLB) SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total transaction of $198,420.00. Following the sale, the senior vice president owned 83,218 shares of the company’s stock, valued at approximately $5,504,038.52. This represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shriram Revankar also recently made the following trade(s):

• On Friday, November 21st, Shriram Revankar sold 3,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.55, for a total transaction of $196,650.00.

Dolby Laboratories Price Performance

Shares of NYSE:DLB traded down $2.26 during mid-day trading on Tuesday, reaching $63.76. 815,095 shares of the company were exchanged, compared to its average volume of 865,044. Dolby Laboratories has a 1 year low of $60.14 and a 1 year high of $85.21. The firm’s 50-day simple moving average is $64.79 and its 200 day simple moving average is $67.99. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 25.71 and a beta of 0.86.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The company had revenue of $346.71 million for the quarter, compared to analysts’ expectations of $341.26 million. During the same period in the prior year, the firm earned $1.14 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. On average, research analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, February 10th. Dolby Laboratories’s dividend payout ratio is currently 58.06%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DLB shares. Wall Street Zen lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Barrington Research decreased their target price on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, January 26th. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Dolby Laboratories in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dolby Laboratories in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dolby Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $90.75.

Institutional Investors Weigh In On Dolby Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of DLB. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Dolby Laboratories by 7.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,777 shares of the electronics maker’s stock valued at $1,172,000 after purchasing an additional 1,146 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Dolby Laboratories during the 3rd quarter valued at approximately $615,000. Campbell & CO Investment Adviser LLC raised its stake in Dolby Laboratories by 193.2% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 17,275 shares of the electronics maker’s stock valued at $1,283,000 after acquiring an additional 11,384 shares during the last quarter. Alps Advisors Inc. lifted its position in Dolby Laboratories by 6.7% during the 3rd quarter. Alps Advisors Inc. now owns 281,532 shares of the electronics maker’s stock worth $20,374,000 after acquiring an additional 17,592 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in shares of Dolby Laboratories by 787.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 27,526 shares of the electronics maker’s stock valued at $1,992,000 after purchasing an additional 24,423 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

About Dolby Laboratories

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.