Kevin J. Yeaman Sells 28,512 Shares of Dolby Laboratories, Inc. (NYSE:DLB) Stock

Dolby Laboratories, Inc. (NYSE:DLB) CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the completion of the transaction, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at $6,205,400.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock traded up $0.04 during trading on Thursday, hitting $74.06. 247,203 shares of the company were exchanged, compared to its average volume of 410,531. The firm has a market capitalization of $7.10 billion, a P/E ratio of 37.77 and a beta of 0.97. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $90.06. The firm’s fifty day moving average price is $72.20 and its 200 day moving average price is $77.18.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.14. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. The business had revenue of $288.82 million during the quarter, compared to analyst estimates of $286.26 million. As a group, equities research analysts anticipate that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current year.

Dolby Laboratories declared that its board has authorized a share repurchase program on Wednesday, August 7th that permits the company to buyback $350.00 million in shares. This buyback authorization permits the electronics maker to buy up to 5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Monday, August 19th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 61.22%.

Hedge Funds Weigh In On Dolby Laboratories

A number of large investors have recently bought and sold shares of DLB. Cardinal Capital Management raised its stake in shares of Dolby Laboratories by 13.0% during the 3rd quarter. Cardinal Capital Management now owns 40,180 shares of the electronics maker’s stock worth $3,075,000 after purchasing an additional 4,612 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in shares of Dolby Laboratories by 1.5% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 14,026 shares of the electronics maker’s stock worth $1,073,000 after purchasing an additional 209 shares in the last quarter. Creative Planning raised its stake in shares of Dolby Laboratories by 7.5% during the 3rd quarter. Creative Planning now owns 4,094 shares of the electronics maker’s stock worth $313,000 after purchasing an additional 286 shares in the last quarter. Willis Investment Counsel raised its stake in shares of Dolby Laboratories by 5.9% during the 3rd quarter. Willis Investment Counsel now owns 5,951 shares of the electronics maker’s stock worth $455,000 after purchasing an additional 330 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Dolby Laboratories by 12.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,506 shares of the electronics maker’s stock worth $1,340,000 after purchasing an additional 1,957 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, September 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.