Dolby Laboratories, Inc. (NYSE:DLB) Director Peter C. Gotcher sold 18,544 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $64.53, for a total transaction of $1,196,644.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Peter C. Gotcher also recently made the following trade(s):
- On Tuesday, February 6th, Peter C. Gotcher sold 5,233 shares of Dolby Laboratories stock. The shares were sold at an average price of $62.12, for a total transaction of $325,073.96.
Shares of Dolby Laboratories, Inc. (DLB) traded down $0.37 during trading on Thursday, hitting $64.25. 686,534 shares of the stock were exchanged, compared to its average volume of 489,560. Dolby Laboratories, Inc. has a twelve month low of $48.00 and a twelve month high of $74.29. The firm has a market capitalization of $6,650.00, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 5.33 and a beta of 0.78.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Monday, February 5th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Friday, February 2nd. Dolby Laboratories’s payout ratio is 29.91%.
Hedge funds have recently modified their holdings of the stock. Elkfork Partners LLC acquired a new position in Dolby Laboratories during the fourth quarter worth approximately $102,000. Captrust Financial Advisors purchased a new position in shares of Dolby Laboratories in the fourth quarter valued at $122,000. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Dolby Laboratories in the fourth quarter valued at $145,000. Meadow Creek Investment Management LLC bought a new position in Dolby Laboratories during the 4th quarter valued at $179,000. Finally, Eagle Boston Investment Management Inc. bought a new position in Dolby Laboratories during the 4th quarter valued at $202,000. 53.79% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on DLB. B. Riley downgraded shares of Dolby Laboratories to a “hold” rating and set a $63.00 price target for the company. in a report on Thursday, January 25th. Zacks Investment Research downgraded shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Dolby Laboratories from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Dolby Laboratories has an average rating of “Hold” and an average price target of $62.00.
TRADEMARK VIOLATION WARNING: This piece was published by Ticker Report and is the property of of Ticker Report. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3231719/insider-selling-dolby-laboratories-inc-dlb-director-sells-18544-shares-of-stock.html.
About Dolby Laboratories
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.