Dolby Laboratories, Inc. (NYSE:DLB) Director Peter C. Gotcher sold 3,334 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $70.00, for a total transaction of $233,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Dolby Laboratories stock traded up $0.99 during trading on Thursday, hitting $69.80. 383,399 shares of the company’s stock traded hands, compared to its average volume of 386,260. Dolby Laboratories, Inc. has a twelve month low of $57.95 and a twelve month high of $74.29. The firm has a market cap of $6.92 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, October 24th. The electronics maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.17. Dolby Laboratories had a net margin of 10.43% and a return on equity of 12.81%. The business had revenue of $265.33 million for the quarter, compared to analyst estimates of $272.42 million. During the same period in the previous year, the business earned $0.21 EPS. Sell-side analysts predict that Dolby Laboratories, Inc. will post 2.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be given a dividend of $0.19 per share. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.16. This represents a $0.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, November 2nd. Dolby Laboratories’s payout ratio is 26.67%.
Several analysts have issued reports on DLB shares. Tigress Financial restated a “buy” rating on shares of Dolby Laboratories in a research report on Friday, September 7th. R. F. Lafferty assumed coverage on shares of Dolby Laboratories in a research report on Wednesday, September 5th. They issued a “buy” rating and a $81.00 price target on the stock. Barrington Research reiterated a “buy” rating and set a $78.00 target price on shares of Dolby Laboratories in a research report on Thursday, July 26th. B. Riley decreased their target price on shares of Dolby Laboratories from $69.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. Finally, ValuEngine upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $72.80.
Several institutional investors have recently modified their holdings of DLB. Eagle Ridge Investment Management boosted its position in Dolby Laboratories by 0.8% in the second quarter. Eagle Ridge Investment Management now owns 113,909 shares of the electronics maker’s stock valued at $7,027,000 after buying an additional 910 shares in the last quarter. Berkshire Asset Management LLC PA boosted its position in Dolby Laboratories by 27.0% in the third quarter. Berkshire Asset Management LLC PA now owns 4,418 shares of the electronics maker’s stock valued at $309,000 after buying an additional 940 shares in the last quarter. BlueSky Wealth Advisors LLC boosted its position in Dolby Laboratories by 11.6% in the third quarter. BlueSky Wealth Advisors LLC now owns 9,355 shares of the electronics maker’s stock valued at $645,000 after buying an additional 972 shares in the last quarter. Denali Advisors LLC boosted its position in Dolby Laboratories by 2.7% in the second quarter. Denali Advisors LLC now owns 41,700 shares of the electronics maker’s stock valued at $2,572,000 after buying an additional 1,100 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Dolby Laboratories by 29.2% in the first quarter. The Manufacturers Life Insurance Company now owns 5,219 shares of the electronics maker’s stock valued at $332,000 after buying an additional 1,181 shares in the last quarter. Institutional investors and hedge funds own 56.24% of the company’s stock.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, including Dolby Digital Plus for digital television, mobile, and Internet-based services; Dolby Digital, a digital audio coding technology that provides multichannel sound in the home; and AAC & HE-AAC, an audio coding technologies used to broadcast, download, and streaming content.
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