Dolby Laboratories, Inc. (NYSE:DLB) EVP Mark Andrew Sherman Sells 12,338 Shares of Stock

Dolby Laboratories, Inc. (NYSE:DLB) EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total value of $963,351.04. Following the completion of the transaction, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at $4,871,957.76. This represents a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dolby Laboratories Trading Down 1.7 %

Shares of NYSE:DLB opened at $77.17 on Thursday. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $87.12. The stock has a market capitalization of $7.36 billion, a P/E ratio of 28.48 and a beta of 0.98. The business has a 50-day moving average price of $76.08 and a two-hundred day moving average price of $75.74.

Dolby Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, December 3rd. Dolby Laboratories’s payout ratio is 48.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Rosenblatt Securities boosted their target price on shares of Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Finally, StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th.

Hedge Funds Weigh In On Dolby Laboratories

Several large investors have recently bought and sold shares of DLB. Boston Trust Walden Corp raised its position in shares of Dolby Laboratories by 185.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after acquiring an additional 698,283 shares during the last quarter. Clifford Capital Partners LLC grew its stake in shares of Dolby Laboratories by 3,114.7% during the third quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after purchasing an additional 262,162 shares during the period. Acadian Asset Management LLC increased its holdings 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 valued at $51,698,000 after purchasing an additional 185,884 shares during the last quarter. 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 period. Finally, AQR Capital Management LLC boosted its holdings in Dolby Laboratories by 16.2% during the second quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker’s stock worth $49,690,000 after buying an additional 87,298 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

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.