Ryan Nicholson Sells 10,500 Shares of Dolby Laboratories, Inc. (NYSE:DLB) Stock

Dolby Laboratories, Inc. (NYSE:DLB) CAO Ryan Nicholson sold 10,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total value of $841,890.00. Following the completion of the transaction, the chief accounting officer now owns 24,364 shares in the company, valued at $1,953,505.52. This represents a 30.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Dolby Laboratories Stock Down 2.7 %

Shares of Dolby Laboratories stock opened at $78.20 on Friday. The stock has a market capitalization of $7.46 billion, a P/E ratio of 28.86 and a beta of 0.98. The stock has a 50 day moving average price of $74.78 and a two-hundred day moving average price of $75.96. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $90.06.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend 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 dividend payout ratio is presently 44.28%.

Dolby Laboratories announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Dolby Laboratories

A number of large investors have recently added to or reduced their stakes in DLB. Price T Rowe Associates Inc. MD boosted its position in Dolby Laboratories by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,160 shares of the electronics maker’s stock worth $4,538,000 after purchasing an additional 855 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of Dolby Laboratories by 41.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,363 shares of the electronics maker’s stock valued at $425,000 after acquiring an additional 1,569 shares during the period. Tidal Investments LLC boosted its position in shares of Dolby Laboratories by 53.9% in the first quarter. Tidal Investments LLC now owns 10,493 shares of the electronics maker’s stock valued at $879,000 after acquiring an additional 3,673 shares during the period. LRI Investments LLC bought a new stake in shares of Dolby Laboratories in the first quarter valued at approximately $178,000. Finally, Cetera Advisors LLC bought a new stake in shares of Dolby Laboratories in the first quarter valued at approximately $225,000. Institutional investors own 58.56% of the company’s stock.

Analyst Ratings Changes

DLB has been the topic of a number of research reports. Barrington Research reiterated an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Wednesday, November 20th. StockNews.com downgraded Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Rosenblatt Securities upped their target price on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th.

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.