Dolby Laboratories, Inc. (NYSE:DLB) SVP Sells $563,500.00 in Stock

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 shares were sold at an average price of $80.50, for a total value of $563,500.00. Following the transaction, the senior vice president now owns 106,806 shares in the company, valued at approximately $8,597,883. This represents a 6.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Dolby Laboratories Stock Performance

Dolby Laboratories stock opened at $78.20 on Thursday. The stock’s 50 day simple moving average is $74.67 and its two-hundred day simple moving average is $75.94. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 29.07 and a beta of 0.98. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $90.06.

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

Dolby Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd will be given a $0.33 dividend. This is a boost 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 1.69%. The ex-dividend date is Tuesday, December 3rd. Dolby Laboratories’s payout ratio is currently 44.28%.

Institutional Trading of Dolby Laboratories

A number of hedge funds have recently made changes to their positions in the stock. First Affirmative Financial Network boosted its position in shares of Dolby Laboratories by 4.9% in the 2nd quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock worth $219,000 after purchasing an additional 129 shares in the last quarter. LRI Investments LLC boosted its position in shares of Dolby Laboratories by 6.0% in the 2nd quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock worth $182,000 after purchasing an additional 130 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Dolby Laboratories by 22.7% in the 3rd 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. Signaturefd LLC boosted its position in shares of Dolby Laboratories by 5.1% in the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock worth $251,000 after purchasing an additional 153 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its position in shares of Dolby Laboratories by 1.3% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock worth $1,095,000 after purchasing an additional 174 shares in the last quarter. 58.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DLB. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Wednesday, November 20th. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Rosenblatt Securities lifted their price objective on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research 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.