Dolby Laboratories, Inc. (NYSE:DLB) CMO Sells $1,517,633.75 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) CMO Todd Pendleton sold 18,121 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the sale, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. The trade was a 32.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Dolby Laboratories Stock Down 1.1 %

NYSE:DLB opened at $81.42 on Friday. The company has a fifty day simple moving average of $80.61 and a two-hundred day simple moving average of $76.33. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 29.94 and a beta of 0.98. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.62%. Dolby Laboratories’s dividend payout ratio (DPR) is 48.53%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DLB shares. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, Barrington Research reiterated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, February 13th.

Hedge Funds Weigh In On Dolby Laboratories

Several institutional investors have recently modified their holdings of the business. Savant Capital LLC grew its stake in shares of Dolby Laboratories by 2.0% in the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock worth $490,000 after acquiring an additional 125 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Dolby Laboratories by 0.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker’s stock worth $1,525,000 after acquiring an additional 132 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Dolby Laboratories by 5.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock worth $201,000 after acquiring an additional 136 shares in the last quarter. Mather Group LLC. grew its stake in shares of Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 142 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Dolby Laboratories by 22.7% during the third 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. 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.