Dolby Laboratories’ (DLB) Outperform Rating Reiterated at Barrington Research

Barrington Research reiterated their outperform rating on shares of Dolby Laboratories (NYSE:DLB) in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a $100.00 price objective on the electronics maker’s stock.

Other equities research analysts also recently issued reports about the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 23rd. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th.

Dolby Laboratories Stock Down 0.0 %

DLB opened at $80.59 on Monday. Dolby Laboratories has a 52 week low of $66.35 and a 52 week high of $85.30. The business has a 50 day moving average price of $79.15 and a two-hundred day moving average price of $75.65. The company has a market cap of $7.69 billion, a PE ratio of 29.74 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.64%. Dolby Laboratories’s payout ratio is 48.71%.

Insiders Place Their Bets

In other Dolby Laboratories news, Director Peter C. Gotcher sold 6,079 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the completion of the transaction, the director now directly owns 37,593 shares of the company’s stock, valued at approximately $2,968,343.28. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John D. Couling sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the sale, the senior vice president now directly owns 106,806 shares in the company, valued at $8,597,883. This trade represents a 6.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,917 shares of company stock worth $10,877,739. 38.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dolby Laboratories

Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. increased its position in shares of Dolby Laboratories by 4.4% in the second quarter. American Century Companies Inc. now owns 19,148 shares of the electronics maker’s stock valued at $1,517,000 after buying an additional 800 shares in the last quarter. Bank of Montreal Can grew its stake in Dolby Laboratories by 45.0% in the 2nd quarter. Bank of Montreal Can now owns 30,788 shares of the electronics maker’s stock valued at $2,465,000 after acquiring an additional 9,558 shares during the last quarter. Marshall Wace LLP purchased a new position in Dolby Laboratories during the 2nd quarter valued at about $6,131,000. Cubist Systematic Strategies LLC acquired a new position in Dolby Laboratories during the second quarter worth about $146,000. Finally, Millennium Management LLC lifted its holdings in shares of Dolby Laboratories by 177.6% in the second quarter. Millennium Management LLC now owns 48,415 shares of the electronics maker’s stock valued at $3,836,000 after purchasing an additional 30,977 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other 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.