Dolby Laboratories, Inc. (DLB) to Issue Quarterly Dividend of $0.30 on December 5th

Dolby Laboratories, Inc. (NYSE:DLB) announced a quarterly dividend on Thursday, November 16th, NASDAQ reports. Shareholders of record on Tuesday, November 28th will be given a dividend of 0.30 per share by the electronics maker on Tuesday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Monday, November 27th. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.27.

Dolby Laboratories has increased its dividend payment by an average of 8.9% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Dolby Laboratories has a dividend payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Dolby Laboratories to earn $2.72 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 39.7%.

Dolby Laboratories Stock Down 7.1 %

Shares of DLB stock opened at $81.57 on Friday. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 36.25 and a beta of 1.00. Dolby Laboratories has a 52 week low of $65.18 and a 52 week high of $91.01. The firm has a 50 day moving average of $81.95 and a 200-day moving average of $83.27.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DLB shares. TheStreet downgraded shares of Dolby Laboratories from a “b” rating to a “c+” rating in a research report on Friday, August 4th. StockNews.com started coverage on shares of Dolby Laboratories in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research report on Friday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Dolby Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $107.00.

Insider Buying and Selling

In related news, CEO Kevin J. Yeaman sold 9,030 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $82.32, for a total value of $743,349.60. Following the transaction, the chief executive officer now directly owns 51,879 shares in the company, valued at approximately $4,270,679.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Dolby Laboratories news, CMO Todd Pendleton sold 6,889 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.41, for a total transaction of $581,500.49. Following the transaction, the chief marketing officer now directly owns 36,976 shares in the company, valued at approximately $3,121,144.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin J. Yeaman sold 9,030 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $82.32, for a total value of $743,349.60. Following the transaction, the chief executive officer now owns 51,879 shares in the company, valued at $4,270,679.28. The disclosure for this sale can be found here. Insiders have sold a total of 33,979 shares of company stock worth $2,816,967 in the last ninety days. Corporate insiders own 39.25% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its stake in shares of Dolby Laboratories by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 5,970 shares of the electronics maker’s stock worth $510,000 after purchasing an additional 128 shares during the period. Cerity Partners LLC raised its stake in shares of Dolby Laboratories by 3.7% during the 2nd quarter. Cerity Partners LLC now owns 3,652 shares of the electronics maker’s stock worth $306,000 after purchasing an additional 130 shares during the period. Horizon Investments LLC raised its stake in shares of Dolby Laboratories by 19.4% during the 2nd quarter. Horizon Investments LLC now owns 831 shares of the electronics maker’s stock worth $70,000 after purchasing an additional 135 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Dolby Laboratories by 52.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 400 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 138 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in shares of Dolby Laboratories by 3.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,954 shares of the electronics maker’s stock worth $409,000 after purchasing an additional 164 shares during the period. 56.37% of the stock is currently owned by institutional investors.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. 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.