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

Dolby Laboratories, Inc. (NYSE:DLBGet Free Report) EVP Mark Andrew Sherman sold 12,338 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total value of $963,351.04. Following the sale, the executive vice president now owns 62,397 shares of the company’s stock, valued at approximately $4,871,957.76. The trade was a 16.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $77.47 on Friday. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $87.12. The stock has a market cap of $7.39 billion, a P/E ratio of 28.59 and a beta of 0.98. The firm has a fifty day moving average price of $76.16 and a 200 day moving average price of $75.75.

Dolby Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Tuesday, December 3rd. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s dividend payout ratio is 48.71%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 4th. Rosenblatt Securities boosted their price target on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Wednesday, November 20th.

Read Our Latest Analysis on Dolby Laboratories

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DLB. Blue Trust Inc. increased its holdings in shares of Dolby Laboratories by 398.8% in the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 331 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Dolby Laboratories in the second quarter valued at about $37,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Dolby Laboratories by 192.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock valued at $46,000 after buying an additional 379 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after acquiring an additional 146 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Dolby Laboratories during the 3rd quarter worth approximately $93,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Company Profile

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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.

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