Insider Selling: Dolby Laboratories (NYSE:DLB) Major Shareholder Sells 100,000 Shares of Stock
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $51.13, for a total value of $5,113,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Dagmar Dolby also recently made the following trade(s):
- On Wednesday, August 2nd, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $52.03, for a total value of $5,203,000.00.
- On Monday, July 31st, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $52.22, for a total value of $5,222,000.00.
Shares of Dolby Laboratories (DLB) opened at 50.92 on Wednesday. The company has a market cap of $5.22 billion, a P/E ratio of 26.05 and a beta of 0.79. The stock’s 50 day moving average price is $51.16 and its 200 day moving average price is $50.67. Dolby Laboratories has a 12-month low of $44.99 and a 12-month high of $55.02.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The business had revenue of $305.67 million for the quarter, compared to the consensus estimate of $296.88 million. During the same period last year, the business posted $0.62 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, analysts forecast that Dolby Laboratories will post $1.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.56 annualized dividend and a yield of 1.10%. Dolby Laboratories’s dividend payout ratio is 28.57%.
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A number of hedge funds have recently modified their holdings of the stock. Watermark Asset Management Inc. acquired a new stake in shares of Dolby Laboratories during the first quarter valued at approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Dolby Laboratories by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock valued at $114,000 after buying an additional 209 shares in the last quarter. US Bancorp DE increased its stake in shares of Dolby Laboratories by 2.6% in the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock valued at $149,000 after buying an additional 78 shares in the last quarter. James Investment Research Inc. acquired a new stake in shares of Dolby Laboratories during the first quarter valued at approximately $155,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Dolby Laboratories by 4.6% in the second quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock valued at $227,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 50.46% of the company’s stock.
Several equities research analysts have recently commented on DLB shares. BidaskClub downgraded Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Finally, B. Riley restated a “buy” rating and set a $61.50 price objective on shares of Dolby Laboratories in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Dolby Laboratories has a consensus rating of “Hold” and an average price target of $54.38.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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