Kevin J. Yeaman Sells 18,060 Shares of Dolby Laboratories, Inc. (NYSE:DLB) Stock

Dolby Laboratories, Inc. (NYSE:DLB) CEO Kevin J. Yeaman sold 18,060 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $82.62, for a total value of $1,492,117.20. Following the completion of the sale, the chief executive officer now owns 51,879 shares in the company, valued at approximately $4,286,242.98. The transaction was disclosed in a filing with the SEC, which is available at this link.

Dolby Laboratories Stock Performance

Dolby Laboratories stock opened at $82.32 on Friday. The company’s fifty day moving average price is $84.55 and its 200 day moving average price is $83.72. Dolby Laboratories, Inc. has a 1 year low of $61.55 and a 1 year high of $91.01. The stock has a market capitalization of $7.87 billion, a P/E ratio of 36.59 and a beta of 0.98.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Thursday, August 3rd. The electronics maker reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Dolby Laboratories had a net margin of 17.03% and a return on equity of 10.44%. The firm had revenue of $298.37 million for the quarter, compared to analysts’ expectations of $300.45 million. Sell-side analysts predict that Dolby Laboratories, Inc. will post 2.46 EPS for the current year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Monday, August 14th were paid a $0.27 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.08 dividend on an annualized basis and a yield of 1.31%. Dolby Laboratories’s dividend payout ratio is currently 48.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its holdings in Dolby Laboratories by 13.4% in the 4th quarter. Wells Fargo & Company MN now owns 1,177,003 shares of the electronics maker’s stock valued at $83,026,000 after purchasing an additional 139,129 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in Dolby Laboratories by 8.2% in the 1st quarter. Moran Wealth Management LLC now owns 8,744 shares of the electronics maker’s stock valued at $747,000 after purchasing an additional 663 shares in the last quarter. Assetmark Inc. lifted its holdings in Dolby Laboratories by 50.8% in the 4th quarter. Assetmark Inc. now owns 4,304 shares of the electronics maker’s stock valued at $304,000 after purchasing an additional 1,449 shares in the last quarter. Citigroup Inc. lifted its holdings in Dolby Laboratories by 264.8% in the 1st quarter. Citigroup Inc. now owns 90,025 shares of the electronics maker’s stock valued at $7,690,000 after purchasing an additional 65,347 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Dolby Laboratories in the 4th quarter valued at $3,411,000. Hedge funds and other institutional investors own 56.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Rosenblatt Securities upped their price objective on Dolby Laboratories from $93.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. TheStreet lowered Dolby Laboratories from a “b” rating to a “c+” rating in a research report on Friday, August 4th. Finally, StockNews.com lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.00.

About Dolby Laboratories

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. Its products include Cinema Imaging Products, Cinema Audio Products, and other products such as 3-D kits, broadcast hardware and software, monitors, and solutions for hearing impaired consumers.