Dolby Laboratories, Inc. Plans Quarterly Dividend of $0.33 (NYSE:DLB)

Dolby Laboratories, Inc. (NYSE:DLB) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Stockholders of record on Tuesday, February 11th will be paid a dividend of 0.33 per share by the electronics maker on Wednesday, February 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, February 11th.

Dolby Laboratories has raised its dividend payment by an average of 10.6% per year over the last three years. Dolby Laboratories has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Dolby Laboratories to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 42.2%.

Dolby Laboratories Trading Up 8.2 %

DLB traded up $6.57 during trading on Thursday, reaching $87.20. 945,349 shares of the company were exchanged, compared to its average volume of 476,982. Dolby Laboratories has a 52 week low of $66.35 and a 52 week high of $89.66. The firm has a 50 day moving average of $79.15 and a 200 day moving average of $75.65. The stock has a market cap of $8.32 billion, a P/E ratio of 32.18 and a beta of 0.98.

Analyst Upgrades and Downgrades

DLB has been the topic of several analyst reports. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday. Finally, Barrington Research reiterated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Monday.

Insider Activity

In other Dolby Laboratories news, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total transaction of $841,890.00. Following the transaction, the chief accounting officer now directly owns 24,364 shares of the company’s stock, valued at $1,953,505.52. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter C. Gotcher sold 6,079 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $78.96, for a total value of $479,997.84. Following the sale, the director now owns 37,593 shares of the company’s stock, valued at approximately $2,968,343.28. This trade represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,917 shares of company stock worth $10,877,739 over the last 90 days. 38.39% of the stock is owned by company insiders.

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.