Bob Borchers Sells 116,821 Shares of Dolby Laboratories (DLB) Stock
Dolby Laboratories (NYSE:DLB) SVP Bob Borchers sold 116,821 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $61.15, for a total value of $7,143,604.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Bob Borchers also recently made the following trade(s):
- On Wednesday, November 15th, Bob Borchers sold 50,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $61.00, for a total value of $3,050,000.00.
Shares of Dolby Laboratories (NYSE DLB) opened at $61.49 on Friday. Dolby Laboratories has a 1 year low of $44.98 and a 1 year high of $61.59. The firm has a market capitalization of $6,274.26, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.18. Dolby Laboratories had a return on equity of 10.73% and a net margin of 18.66%. The company had revenue of $242.05 million during the quarter, compared to analysts’ expectations of $244.80 million. During the same period last year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. research analysts predict that Dolby Laboratories will post 2.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.04%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, November 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is presently 32.99%.
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A number of analysts recently issued reports on DLB shares. B. Riley reissued a “buy” rating and issued a $61.50 target price on shares of Dolby Laboratories in a research report on Friday, July 28th. Dougherty & Co reissued a “buy” rating and issued a $63.00 target price on shares of Dolby Laboratories in a research report on Wednesday, September 13th. Zacks Investment Research cut Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Piper Jaffray Companies reissued a “hold” rating and issued a $52.00 target price (up from $49.00) on shares of Dolby Laboratories in a research report on Wednesday, September 13th. Finally, BidaskClub cut Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.17.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Dolby Laboratories by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 4,725,496 shares of the electronics maker’s stock worth $231,360,000 after acquiring an additional 103,702 shares during the period. BlackRock Inc. lifted its position in Dolby Laboratories by 19.8% during the 2nd quarter. BlackRock Inc. now owns 2,913,371 shares of the electronics maker’s stock worth $142,639,000 after acquiring an additional 481,649 shares during the period. Janus Henderson Group PLC lifted its position in Dolby Laboratories by 352.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,657,618 shares of the electronics maker’s stock worth $152,875,000 after acquiring an additional 2,069,849 shares during the period. American Century Companies Inc. raised its stake in shares of Dolby Laboratories by 0.9% during the 3rd quarter. American Century Companies Inc. now owns 1,844,837 shares of the electronics maker’s stock worth $106,115,000 after buying an additional 16,420 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in shares of Dolby Laboratories by 6.9% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,795,000 shares of the electronics maker’s stock worth $103,248,000 after buying an additional 116,500 shares in the last quarter. 51.71% of the stock is owned by institutional investors.
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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