Dolby Laboratories, Inc. (NYSE:DLB) CEO Kevin J. Yeaman Sells 50,000 Shares

Dolby Laboratories, Inc. (NYSE:DLB) CEO Kevin J. Yeaman sold 50,000 shares of Dolby Laboratories stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the completion of the sale, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at approximately $6,742,889.34. This trade represents a 37.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Dolby Laboratories Trading Down 2.7 %

Shares of NYSE:DLB opened at $78.20 on Thursday. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 28.86 and a beta of 0.98. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The company has a 50-day moving average price of $74.67 and a 200 day moving average price of $75.94.

Dolby Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.69%. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is presently 44.28%.

Dolby Laboratories declared that its board has authorized a stock buyback plan on Wednesday, August 7th that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Dolby Laboratories

Institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its stake in shares of Dolby Laboratories by 22.0% during the 3rd quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker’s stock worth $3,513,000 after purchasing an additional 8,509 shares during the period. Synovus Financial Corp raised its holdings in shares of Dolby Laboratories by 10.8% in the third quarter. Synovus Financial Corp now owns 32,062 shares of the electronics maker’s stock worth $2,454,000 after buying an additional 3,113 shares during the period. Geode Capital Management LLC lifted its stake in shares of Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock worth $117,767,000 after acquiring an additional 63,293 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Dolby Laboratories by 4.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after acquiring an additional 63,589 shares during the period. Finally, M&T Bank Corp grew its position in Dolby Laboratories by 26.6% in the 3rd quarter. M&T Bank Corp now owns 4,045 shares of the electronics maker’s stock valued at $310,000 after acquiring an additional 849 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DLB. Rosenblatt Securities lifted their price target on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Finally, StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

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.