Dolby Laboratories Declares Quarterly Dividend of $0.36 (NYSE:DLB)

Dolby Laboratories (NYSE:DLB) declared a quarterly dividend on Thursday, January 29th. Stockholders of record on Tuesday, February 10th will be paid a dividend of 0.36 per share by the electronics maker on Wednesday, February 18th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, February 10th.

Dolby Laboratories has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Dolby Laboratories has a dividend payout ratio of 34.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Dolby Laboratories to earn $3.18 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 45.3%.

Dolby Laboratories Trading Up 0.3%

DLB stock traded up $0.18 during trading on Friday, reaching $63.21. 730,891 shares of the stock were exchanged, compared to its average volume of 757,496. Dolby Laboratories has a twelve month low of $60.14 and a twelve month high of $85.49. The company has a market capitalization of $6.04 billion, a P/E ratio of 24.04 and a beta of 0.88. The stock has a 50 day simple moving average of $65.14 and a 200-day simple moving average of $68.95.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Thursday, January 29th. The electronics maker reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $346.71 million during the quarter, compared to the consensus estimate of $341.26 million. Dolby Laboratories had a return on equity of 11.99% and a net margin of 18.90%.The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned $1.14 EPS. Equities analysts predict that Dolby Laboratories will post 2.94 EPS for the current year.

Insider Activity at Dolby Laboratories

In other news, EVP Mark Andrew Sherman sold 9,109 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $66.73, for a total transaction of $607,843.57. Following the transaction, the executive vice president owned 73,054 shares of the company’s stock, valued at $4,874,893.42. This represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $65.55, for a total value of $196,650.00. Following the completion of the sale, the senior vice president owned 67,435 shares of the company’s stock, valued at approximately $4,420,364.25. The trade was a 4.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 137,120 shares of company stock worth $9,184,809. Company insiders own 37.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DLB. First Horizon Corp bought a new stake in shares of Dolby Laboratories during the third quarter worth approximately $25,000. Hantz Financial Services Inc. raised its position in shares of Dolby Laboratories by 166.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Dolby Laboratories by 590.4% in the 2nd quarter. Allworth Financial LP now owns 504 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 431 shares during the period. Mather Group LLC. bought a new position in shares of Dolby Laboratories in the 3rd quarter worth $38,000. Finally, Rothschild Investment LLC grew its stake in shares of Dolby Laboratories by 4,046.7% during the third quarter. Rothschild Investment LLC now owns 622 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 607 shares during the period. Institutional investors own 58.56% of the company’s stock.

About Dolby Laboratories

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.