By otakuyassine3@gmail.com 
Dolby Laboratories, Inc. (NYSE:DLB – Get Free Report) EVP Mark Andrew Sherman sold 12,338 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total value of $963,351.04. Following the completion of the sale, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $4,871,957.76. This trade represents a 16.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Dolby Laboratories Stock Performance
NYSE DLB opened at $77.29 on Friday. The business has a 50 day simple moving average of $76.16 and a 200 day simple moving average of $75.75. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $87.12. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 28.52 and a beta of 0.98.
Dolby Laboratories Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio is 48.71%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Wednesday, November 20th. Rosenblatt Securities upped their price objective on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th.
Read Our Latest Analysis on Dolby Laboratories
Institutional Investors Weigh In On Dolby Laboratories
Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock worth $117,767,000 after acquiring an additional 63,293 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Dolby Laboratories by 5.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after buying an additional 15,546 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Dolby Laboratories in the second quarter valued at about $3,348,000. Boston Trust Walden Corp boosted its position in Dolby Laboratories by 185.3% during the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after purchasing an additional 698,283 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in Dolby Laboratories by 47.5% in the second quarter. Pacer Advisors Inc. now owns 23,320 shares of the electronics maker’s stock valued at $1,848,000 after purchasing an additional 7,509 shares in the last quarter. Institutional investors and hedge funds 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.
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