John D. Couling Sells 7,000 Shares of Dolby Laboratories, Inc. (NYSE:DLB) Stock

Dolby Laboratories, Inc. (NYSE:DLB) SVP John D. Couling sold 7,000 shares of Dolby Laboratories stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the completion of the transaction, the senior vice president now owns 106,806 shares of the company’s stock, valued at approximately $8,597,883. This represents a 6.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Dolby Laboratories Price Performance

Shares of NYSE:DLB opened at $78.20 on Friday. The firm has a market capitalization of $7.46 billion, a PE ratio of 28.86 and a beta of 0.98. The business has a 50 day simple moving average of $74.78 and a two-hundred day simple moving average of $75.96. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $90.06.

Dolby Laboratories announced that its board has authorized a share repurchase program on Wednesday, August 7th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Dolby Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 1.69%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s payout ratio is presently 44.28%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Rosenblatt Securities lifted their target price on Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Barrington Research restated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Finally, StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

Institutional Trading of Dolby Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in DLB. Boston Trust Walden Corp grew its holdings in shares of Dolby Laboratories by 185.3% in the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after purchasing an additional 698,283 shares during the last quarter. Clifford Capital Partners LLC grew its stake in Dolby Laboratories by 3,114.7% in the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after acquiring an additional 262,162 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Dolby Laboratories by 39.8% during the second quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock worth $51,698,000 after acquiring an additional 185,884 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Dolby Laboratories by 27.0% during the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after acquiring an additional 168,744 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Dolby Laboratories by 16.2% during the second quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker’s stock valued at $49,690,000 after acquiring an additional 87,298 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

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.