Insider Selling: Dolby Laboratories, Inc. (NYSE:DLB) EVP Sells 40,000 Shares of Stock

Dolby Laboratories, Inc. (NYSE:DLB) EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total value of $3,395,200.00. Following the sale, the executive vice president now owns 62,397 shares in the company, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Mark Andrew Sherman also recently made the following trade(s):

• On Tuesday, December 17th, Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04.

Dolby Laboratories Price Performance

Shares of DLB stock opened at $84.41 on Thursday. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The business has a 50-day moving average of $79.63 and a 200 day moving average of $75.81. The stock has a market capitalization of $8.06 billion, a PE ratio of 31.03 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be given a $0.33 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.56%. Dolby Laboratories’s dividend payout ratio is 48.53%.

Institutional Investors Weigh In On Dolby Laboratories

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Dolby Laboratories by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock worth $117,767,000 after purchasing an additional 63,293 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of Dolby Laboratories by 5.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after purchasing an additional 15,546 shares in the last quarter. Barclays PLC grew its stake in shares of Dolby Laboratories by 80.5% in the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock worth $2,544,000 after buying an additional 14,825 shares during the last quarter. Boston Trust Walden Corp increased its position 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 in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Dolby Laboratories during the third quarter valued at $3,031,000. 58.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Barrington Research reiterated an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Monday, January 27th.

About Dolby Laboratories

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.