Insider Selling: Dolby Laboratories, Inc. (NYSE:DLB) CMO Sells 18,121 Shares of Stock

Dolby Laboratories, Inc. (NYSE:DLB) CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Dolby Laboratories Trading Down 1.1 %

DLB opened at $81.42 on Friday. The firm has a market cap of $7.77 billion, a P/E ratio of 29.94 and a beta of 0.98. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66. The stock has a 50-day moving average of $80.61 and a 200 day moving average of $76.31.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s payout ratio is currently 48.53%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, February 13th. StockNews.com lowered Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th.

Institutional Trading of Dolby Laboratories

Several institutional investors have recently added to or reduced their stakes in the company. Vise Technologies Inc. bought a new stake in Dolby Laboratories in the fourth quarter worth about $308,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Dolby Laboratories by 3.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 225,618 shares of the electronics maker’s stock worth $17,621,000 after purchasing an additional 6,640 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Dolby Laboratories by 247.2% in the fourth quarter. Squarepoint Ops LLC now owns 191,675 shares of the electronics maker’s stock worth $14,970,000 after purchasing an additional 136,465 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Dolby Laboratories by 20.4% in the fourth quarter. Two Sigma Advisers LP now owns 29,500 shares of the electronics maker’s stock worth $2,304,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Teza Capital Management LLC bought a new stake in Dolby Laboratories in the fourth quarter worth about $588,000. Institutional investors own 58.56% of the company’s stock.

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.