Insider Selling: Dolby Laboratories, Inc. (NYSE:DLB) CEO Sells 50,000 Shares of Stock

Dolby Laboratories, Inc. (NYSE:DLB) CEO Kevin J. Yeaman sold 50,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.54, for a total value of $4,027,000.00. Following the completion of the sale, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at approximately $6,742,889.34. This trade represents a 37.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dolby Laboratories Stock Down 2.7 %

NYSE DLB traded down $2.13 during mid-day trading on Wednesday, hitting $78.20. The stock had a trading volume of 417,734 shares, compared to its average volume of 408,844. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $90.06. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 29.07 and a beta of 0.98. The company has a 50 day simple moving average of $74.67 and a 200 day simple moving average of $75.94.

Dolby Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be paid a $0.33 dividend. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is presently 44.28%.

Dolby Laboratories declared that its board has authorized a stock repurchase plan on Wednesday, August 7th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the electronics maker to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Dolby Laboratories

A number of large investors have recently bought and sold shares of DLB. Boston Trust Walden Corp grew its holdings in Dolby Laboratories by 185.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after buying an additional 698,283 shares during the last quarter. Clifford Capital Partners LLC boosted its holdings in shares of Dolby Laboratories by 3,114.7% during the third quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after purchasing an additional 262,162 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Dolby Laboratories by 39.8% during the second quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock worth $51,698,000 after purchasing an additional 185,884 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Dolby Laboratories by 27.0% during the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after purchasing an additional 168,744 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Dolby Laboratories by 16.2% during the second quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker’s stock worth $49,690,000 after purchasing an additional 87,298 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

DLB has been the subject of a number of recent research reports. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Wednesday, November 20th. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Rosenblatt Securities increased their target price on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th.

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.