Dolby Laboratories’ (DLB) “Outperform” Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of Dolby Laboratories (NYSE:DLB) in a research report released on Monday morning,Benzinga reports. The firm currently has a $100.00 price objective on the electronics maker’s stock.

Several other brokerages also recently issued reports on DLB. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 23rd. StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th.

Dolby Laboratories Trading Down 0.0 %

Shares of DLB stock opened at $80.59 on Monday. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 29.74 and a beta of 0.98. The firm has a 50-day moving average price of $79.15 and a 200 day moving average price of $75.65. Dolby Laboratories has a twelve month low of $66.35 and a twelve month high of $85.30.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.64%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, December 3rd. Dolby Laboratories’s payout ratio is presently 48.71%.

Insiders Place Their Bets

In other news, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total value of $963,351.04. Following the transaction, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at $4,871,957.76. The trade was a 16.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John D. Couling sold 7,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.50, for a total transaction of $563,500.00. Following the sale, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at approximately $8,597,883. This trade represents a 6.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,917 shares of company stock valued at $10,877,739 over the last quarter. Company insiders own 38.39% of the company’s stock.

Hedge Funds Weigh In On Dolby Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in DLB. Fifth Third Bancorp raised its position in Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 163 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Dolby Laboratories by 436.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after buying an additional 301 shares during the period. Mather Group LLC. lifted its position in Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 142 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Dolby Laboratories by 22.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 146 shares during the period. Finally, GAMMA Investing LLC grew its position in Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock valued at $61,000 after acquiring an additional 525 shares in the last quarter. Institutional investors and hedge funds 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.