Dolby Laboratories, Inc. (NYSE:DLB) CAO Sells $588,490.00 in Stock

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 stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the transaction, the chief accounting officer now directly owns 29,758 shares in the company, valued at $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $80.18, for a total value of $841,890.00.

Dolby Laboratories Price Performance

Shares of DLB stock opened at $84.50 on Friday. 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 $79.76 and a 200 day moving average of $75.87. The stock has a market capitalization of $8.06 billion, a PE ratio of 31.07 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The company 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. This represents a $1.32 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Analyst Ratings Changes

A number of brokerages have recently commented on DLB. Barrington Research reissued an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Monday, January 27th. Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DLB. Bank of New York Mellon Corp boosted its stake in shares of Dolby Laboratories by 64.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker’s stock worth $376,948,000 after buying an additional 1,887,518 shares during the last quarter. State Street Corp increased its stake in Dolby Laboratories by 1.5% during the third quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock worth $147,824,000 after acquiring an additional 29,289 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Dolby Laboratories by 4.3% during the third quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after buying an additional 63,293 shares during the period. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Dolby Laboratories by 4.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after purchasing an additional 63,589 shares during the period. Finally, Boston Trust Walden Corp raised its stake in Dolby Laboratories by 0.9% in the fourth quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker’s stock worth $84,715,000 after buying an additional 9,624 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

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.