Dolby Laboratories, Inc. (NYSE:DLB) CAO Ryan Nicholson Sells 10,500 Shares

Dolby Laboratories, Inc. (NYSE:DLB) CAO Ryan Nicholson sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total value of $841,890.00. Following the completion of the transaction, the chief accounting officer now owns 24,364 shares in the company, valued at approximately $1,953,505.52. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Dolby Laboratories Stock Performance

DLB opened at $78.20 on Thursday. The company has a market capitalization of $7.46 billion, a P/E ratio of 28.86 and a beta of 0.98. The company has a 50-day moving average of $74.67 and a 200-day moving average of $75.94. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $90.06.

Dolby Laboratories announced that its board has authorized a stock repurchase plan on Wednesday, August 7th that allows the company to buyback $350.00 million in shares. This buyback authorization allows the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Dolby Laboratories Increases Dividend

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

Institutional Investors Weigh In On Dolby Laboratories

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Barrington Research reissued an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Wednesday, November 20th. Finally, Rosenblatt Securities lifted their price objective on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a report 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.