Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling Sells 50,000 Shares

Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling sold 50,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $80.04, for a total value of $4,002,000.00. Following the completion of the sale, the senior vice president now directly owns 106,806 shares in the company, valued at approximately $8,548,752.24. This represents a 31.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock opened at $80.33 on Wednesday. The firm has a 50 day simple moving average of $74.50 and a 200 day simple moving average of $75.96. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $90.06. The firm has a market cap of $7.66 billion, a P/E ratio of 29.64 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio is 48.71%.

Dolby Laboratories announced that its Board of Directors has approved a share buyback program on Wednesday, August 7th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the electronics maker to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently commented on DLB. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Rosenblatt Securities raised their target price on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Wednesday, November 20th.

Institutional Trading of Dolby Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in DLB. Ninety One UK Ltd grew its position in shares of Dolby Laboratories by 2.6% during the 2nd quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker’s stock worth $185,791,000 after buying an additional 60,114 shares during the period. State Street Corp grew its holdings in Dolby Laboratories by 1.5% during the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock worth $147,824,000 after acquiring an additional 29,289 shares during the period. Geode Capital Management LLC lifted its stake in shares of Dolby Laboratories by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after purchasing an additional 63,293 shares during the period. Disciplined Growth Investors Inc. MN boosted its position in shares of Dolby Laboratories by 4.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after purchasing an additional 63,589 shares during the last quarter. Finally, Boston Trust Walden Corp grew its stake in shares of Dolby Laboratories by 185.3% during the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after purchasing an additional 698,283 shares during the period. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. 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.