Dolby Laboratories, Inc. (NYSE:DLB) Declares Quarterly Dividend of $0.33

Dolby Laboratories, Inc. (NYSE:DLB) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Investors of record on Tuesday, February 11th will be given a dividend of 0.33 per share by the electronics maker on Wednesday, February 19th. This represents a $1.32 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Tuesday, February 11th.

Dolby Laboratories has raised its dividend payment by an average of 10.6% annually over the last three years. Dolby Laboratories has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Dolby Laboratories to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 42.2%.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock traded up $6.57 during trading on Thursday, reaching $87.20. 744,744 shares of the stock traded hands, compared to its average volume of 463,435. Dolby Laboratories has a 52-week low of $66.35 and a 52-week high of $89.66. The business has a fifty day simple moving average of $79.15 and a two-hundred day simple moving average of $75.65. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 32.18 and a beta of 0.98.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CAO Ryan Nicholson sold 10,500 shares of Dolby Laboratories stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total transaction of $841,890.00. Following the completion of the sale, the chief accounting officer now owns 24,364 shares of the company’s stock, valued at approximately $1,953,505.52. The trade was a 30.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $78.96, for a total value of $479,997.84. Following the sale, the director now directly owns 37,593 shares of the company’s stock, valued at $2,968,343.28. This trade represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,917 shares of company stock valued at $10,877,739. 38.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DLB. Barrington Research reissued an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Monday. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday. Finally, StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th.

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.