Dolby Laboratories, Inc. (NYSE:DLB) EVP Mark Andrew Sherman Sells 40,000 Shares of Stock

Dolby Laboratories, Inc. (NYSE:DLB) EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the transaction, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Mark Andrew Sherman also recently made the following trade(s):

• On Tuesday, December 17th, Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04.

Dolby Laboratories Trading Up 0.5 %

NYSE:DLB opened at $84.15 on Tuesday. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $89.66. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 30.94 and a beta of 0.98. The stock has a fifty day simple moving average of $79.42 and a 200-day simple moving average of $75.71.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.57%. Dolby Laboratories’s dividend payout ratio (DPR) is 48.53%.

Analyst Ratings Changes

Several research analysts have commented on DLB shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Monday, January 27th.

Institutional Trading of Dolby Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the business. Savant Capital LLC raised its holdings in Dolby Laboratories by 2.0% in the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock worth $490,000 after purchasing an additional 125 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Dolby Laboratories by 5.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock worth $201,000 after purchasing an additional 136 shares in the last quarter. Mather Group LLC. raised its holdings in Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after purchasing an additional 142 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after purchasing an additional 146 shares in the last quarter. Finally, Naples Global Advisors LLC raised its holdings in Dolby Laboratories by 0.4% in the fourth quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker’s stock worth $2,791,000 after purchasing an additional 160 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

About Dolby Laboratories

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.