Dolby Laboratories (NYSE:DLB) CAO Sells $177,035.46 in Stock

Dolby Laboratories (NYSE:DLB) CAO Ryan Nicholson sold 2,667 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $66.38, for a total transaction of $177,035.46. Following the sale, the chief accounting officer owned 36,956 shares in the company, valued at approximately $2,453,139.28. This trade represents a 6.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock opened at $64.27 on Friday. Dolby Laboratories has a 1 year low of $60.14 and a 1 year high of $84.15. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 25.92 and a beta of 0.86. The company has a 50-day moving average of $64.58 and a 200 day moving average of $67.90.

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

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, February 10th. Dolby Laboratories’s payout ratio is 58.06%.

Institutional Investors Weigh In On Dolby Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Corp purchased a new stake in Dolby Laboratories during the 3rd quarter valued at $25,000. Hantz Financial Services Inc. increased its position in Dolby Laboratories by 166.7% during the third quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. Allworth Financial LP lifted its holdings in Dolby Laboratories by 590.4% in the second quarter. Allworth Financial LP now owns 504 shares of the electronics maker’s stock valued at $37,000 after acquiring an additional 431 shares during the period. Mather Group LLC. purchased a new position in Dolby Laboratories in the third quarter worth about $38,000. Finally, Rothschild Investment LLC boosted its position in Dolby Laboratories by 4,046.7% in the third quarter. Rothschild Investment LLC now owns 622 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 607 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.