Insider Selling: Dolby Laboratories, Inc. (NYSE:DLB) CEO Sells $3,223,215.10 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) CEO Kevin J. Yeaman sold 34,621 shares of the company’s stock in a transaction on Tuesday, January 11th. The stock was sold at an average price of $93.10, for a total transaction of $3,223,215.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of NYSE:DLB opened at $91.95 on Friday. The business’s 50 day simple moving average is $90.27 and its 200-day simple moving average is $93.41. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 2.45 and a beta of 0.99. Dolby Laboratories, Inc. has a 12 month low of $83.10 and a 12 month high of $104.74.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Tuesday, November 16th. The electronics maker reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. Dolby Laboratories had a return on equity of 11.87% and a net margin of 24.21%. The company had revenue of $285.03 million for the quarter, compared to the consensus estimate of $299.95 million. During the same period in the previous year, the business earned $0.28 earnings per share. Dolby Laboratories’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Dolby Laboratories, Inc. will post 2.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 8th. Shareholders of record on Tuesday, November 30th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 29th. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.22. Dolby Laboratories’s payout ratio is presently 33.67%.

Several hedge funds and other institutional investors have recently made changes to their positions in DLB. Spire Wealth Management boosted its position in Dolby Laboratories by 579.6% in the 4th quarter. Spire Wealth Management now owns 632 shares of the electronics maker’s stock valued at $60,000 after buying an additional 539 shares during the last quarter. BlueSky Wealth Advisors LLC boosted its holdings in shares of Dolby Laboratories by 594.8% in the fourth quarter. BlueSky Wealth Advisors LLC now owns 46,991 shares of the electronics maker’s stock valued at $4,474,000 after acquiring an additional 40,228 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Dolby Laboratories by 178.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 14,181 shares of the electronics maker’s stock worth $1,350,000 after purchasing an additional 9,090 shares during the period. Bank of New York Mellon Corp raised its position in Dolby Laboratories by 35.1% in the third quarter. Bank of New York Mellon Corp now owns 1,308,241 shares of the electronics maker’s stock worth $115,128,000 after acquiring an additional 339,994 shares in the last quarter. Finally, Gyon Technologies Capital Management LP acquired a new position in shares of Dolby Laboratories in the 3rd quarter worth approximately $631,000. 58.68% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on the stock. Barrington Research restated a “buy” rating and issued a $114.00 price objective on shares of Dolby Laboratories in a research report on Thursday, November 18th. Colliers Securities restated a “buy” rating on shares of Dolby Laboratories in a research note on Wednesday, November 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $101.67.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc engages in the provision of audio and imaging technologies. It transforms entertainment and communications for content playback in movies, television, music, and gaming. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.

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Insider Buying and Selling by Quarter for Dolby Laboratories (NYSE:DLB)

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