Dolby Laboratories, Inc. (NYSE:DLB) CAO Ryan Nicholson Sells 7,000 Shares

Dolby Laboratories, Inc. (NYSE:DLB) CAO Ryan Nicholson sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the sale, the chief accounting officer now owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ryan Nicholson also recently made the following trade(s):

• On Tuesday, November 26th, Ryan Nicholson sold 10,500 shares of Dolby Laboratories stock. The stock was sold at an average price of $80.18, for a total transaction of $841,890.00.

Dolby Laboratories Trading Up 0.1 %

DLB stock opened at $84.50 on Friday. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The firm has a market capitalization of $8.06 billion, a PE ratio of 31.07 and a beta of 0.98. The firm has a 50-day moving average of $79.76 and a two-hundred day moving average of $75.87.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.56%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Hedge Funds Weigh In On Dolby Laboratories

A number of hedge funds have recently added to or reduced their stakes in DLB. Bank of New York Mellon Corp grew its holdings in Dolby Laboratories by 64.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock valued at $376,948,000 after purchasing an additional 1,887,518 shares during the last quarter. Boston Trust Walden Corp lifted its position in Dolby Laboratories by 185.3% in the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after purchasing an additional 698,283 shares during the period. Clifford Capital Partners LLC lifted 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 valued at $20,707,000 after acquiring an additional 262,162 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Dolby Laboratories by 10,441,900.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after acquiring an additional 104,419 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Dolby Laboratories by 496.7% in the third quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock valued at $7,823,000 after buying an additional 85,093 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on DLB. Barrington Research reissued an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Monday, January 27th. 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. Finally, StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st.

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.