Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling Sells 7,000 Shares

Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling sold 7,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.50, for a total transaction of $563,500.00. Following the sale, the senior vice president now owns 106,806 shares in the company, valued at $8,597,883. This trade represents a 6.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Dolby Laboratories Stock Up 0.0 %

NYSE:DLB traded up $0.03 during trading hours on Tuesday, reaching $80.33. 464,810 shares of the company’s stock were exchanged, compared to its average volume of 408,805. The company has a market capitalization of $7.66 billion, a P/E ratio of 29.64 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 business’s 50-day simple moving average is $74.50 and its two-hundred day simple moving average is $75.96.

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

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.64%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, December 3rd. Dolby Laboratories’s payout ratio is presently 48.71%.

Hedge Funds Weigh In On Dolby Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in Dolby Laboratories by 398.8% during the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 331 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Dolby Laboratories during the second quarter valued at $37,000. GAMMA Investing LLC raised its position in Dolby Laboratories by 64.6% during the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after buying an additional 192 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in Dolby Laboratories by 192.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock worth $46,000 after acquiring an additional 379 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 146 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analysts Set New Price Targets

DLB has been the topic of several recent analyst reports. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, November 20th. Finally, Rosenblatt Securities lifted their target price on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th.

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.