Dolby Laboratories (NYSE:DLB) CAO Ryan Nicholson Sells 2,667 Shares

Dolby Laboratories (NYSE:DLB) CAO Ryan Nicholson sold 2,667 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $66.38, for a total value of $177,035.46. Following the transaction, the chief accounting officer directly owned 36,956 shares in the company, valued at $2,453,139.28. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Dolby Laboratories Trading Down 3.4%

NYSE DLB opened at $63.76 on Wednesday. The company has a fifty day simple moving average of $64.71 and a 200 day simple moving average of $67.95. Dolby Laboratories has a 12-month low of $60.14 and a 12-month high of $85.21. The company has a market cap of $6.09 billion, a P/E ratio of 25.71 and a beta of 0.86.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The firm had revenue of $346.71 million for the quarter, compared to the consensus estimate of $341.26 million. During the same quarter in the prior year, the company posted $1.14 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $1.44 annualized dividend and a yield of 2.3%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 58.06%.

Analysts Set New Price Targets

A number of brokerages have commented on DLB. Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a report on Monday, December 29th. Wall Street Zen cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price target on shares of Dolby Laboratories in a report on Friday, January 30th. Finally, Barrington Research dropped their price objective on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.75.

Hedge Funds Weigh In On Dolby Laboratories

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in Dolby Laboratories by 3.5% during the first quarter. Royal Bank of Canada now owns 68,367 shares of the electronics maker’s stock worth $5,491,000 after acquiring an additional 2,298 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Dolby Laboratories by 218.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 249,574 shares of the electronics maker’s stock valued at $20,043,000 after purchasing an additional 171,288 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Dolby Laboratories by 5.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,216 shares of the electronics maker’s stock valued at $19,131,000 after purchasing an additional 12,598 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Dolby Laboratories during the 1st quarter worth $390,000. Finally, CWM LLC raised its stake in shares of Dolby Laboratories by 57.8% during the 2nd quarter. CWM LLC now owns 21,752 shares of the electronics maker’s stock worth $1,615,000 after purchasing an additional 7,967 shares during the period. 58.56% of the stock is owned by institutional investors.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.