Dolby Laboratories, Inc. (DLB) EVP Sells $5,098,756.08 in Stock
Dolby Laboratories, Inc. (NYSE:DLB) EVP Mark Andrew Sherman sold 81,554 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $62.52, for a total value of $5,098,756.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Mark Andrew Sherman also recently made the following trade(s):
- On Friday, January 12th, Mark Andrew Sherman sold 10,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.00, for a total value of $650,000.00.
- On Tuesday, December 19th, Mark Andrew Sherman sold 4,594 shares of Dolby Laboratories stock. The shares were sold at an average price of $62.45, for a total value of $286,895.30.
Dolby Laboratories, Inc. (NYSE:DLB) traded up $0.21 during midday trading on Friday, reaching $60.19. The company had a trading volume of 578,808 shares, compared to its average volume of 450,250. Dolby Laboratories, Inc. has a fifty-two week low of $48.00 and a fifty-two week high of $74.29. The firm has a market capitalization of $6,452.33, a PE ratio of 95.54, a P/E/G ratio of 5.31 and a beta of 0.78.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Monday, February 5th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.64 annualized dividend and a yield of 1.06%. Dolby Laboratories’s dividend payout ratio is currently 101.59%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DLB. Janus Henderson Group PLC grew its stake in Dolby Laboratories by 352.2% during the third quarter. Janus Henderson Group PLC now owns 2,657,618 shares of the electronics maker’s stock worth $152,875,000 after purchasing an additional 2,069,849 shares during the period. Schroder Investment Management Group acquired a new stake in Dolby Laboratories in the third quarter valued at approximately $35,761,000. BlackRock Inc. grew its stake in Dolby Laboratories by 19.8% in the second quarter. BlackRock Inc. now owns 2,913,371 shares of the electronics maker’s stock valued at $142,639,000 after acquiring an additional 481,649 shares during the period. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in Dolby Laboratories in the fourth quarter valued at approximately $22,952,000. Finally, TimesSquare Capital Management LLC grew its stake in Dolby Laboratories by 6.9% in the third quarter. TimesSquare Capital Management LLC now owns 1,795,000 shares of the electronics maker’s stock valued at $103,248,000 after acquiring an additional 116,500 shares during the period. 53.01% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on DLB. B. Riley cut Dolby Laboratories to a “hold” rating and set a $63.00 price target for the company. in a research note on Thursday, January 25th. Zacks Investment Research cut Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Thursday, January 18th. Finally, JPMorgan Chase & Co. raised their target price on Dolby Laboratories from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $62.00.
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About Dolby Laboratories
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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