Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling Sells 50,000 Shares

Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling sold 50,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the completion of the sale, the senior vice president now owns 106,806 shares in the company, valued at approximately $8,548,752.24. The trade was a 31.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock traded up $0.03 during trading on Tuesday, hitting $80.33. 464,810 shares of the company’s stock traded hands, compared to its average volume of 408,805. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $90.06. The company has a market cap of $7.66 billion, a PE ratio of 29.64 and a beta of 0.98. The firm’s fifty day moving average price is $74.50 and its 200 day moving average price is $75.96.

Dolby Laboratories announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors 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 given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, December 3rd. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio (DPR) is 48.71%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in shares of Dolby Laboratories by 398.8% in the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 331 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Dolby Laboratories during the second quarter worth approximately $37,000. GAMMA Investing LLC raised its stake in shares of Dolby Laboratories by 64.6% in the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 192 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of 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. grew 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 last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.