Dolby Laboratories (NYSE:DLB) Hits New 52-Week High – Should You Buy?

Dolby Laboratories, Inc. (NYSE:DLB) reached a new 52-week high on Friday . The company traded as high as $89.66 and last traded at $87.20, with a volume of 945349 shares changing hands. The stock had previously closed at $80.63.

Analysts Set New Price Targets

Several research analysts recently issued reports on DLB shares. Barrington Research reaffirmed an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Monday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday. Finally, StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 4th.

Dolby Laboratories Price Performance

The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 32.18 and a beta of 0.98. The firm’s fifty day moving average is $79.29 and its 200-day moving average is $75.73.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.51%. Dolby Laboratories’s payout ratio is 48.71%.

Insiders Place Their Bets

In related news, SVP John D. Couling sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the transaction, the senior vice president now directly owns 106,806 shares of the company’s stock, valued at approximately $8,548,752.24. This represents a 31.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Gotcher sold 6,079 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the completion of the sale, the director now directly owns 37,593 shares of the company’s stock, valued at $2,968,343.28. This trade represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 135,917 shares of company stock worth $10,877,739. 38.39% of the stock is owned by corporate insiders.

Institutional Trading of Dolby Laboratories

Several hedge funds have recently bought and sold shares of DLB. Rhumbline Advisers lifted its stake in shares of Dolby Laboratories by 0.5% in the fourth quarter. Rhumbline Advisers now owns 250,121 shares of the electronics maker’s stock valued at $19,534,000 after buying an additional 1,194 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Dolby Laboratories in the 4th quarter worth about $1,237,000. Naples Global Advisors LLC lifted its position in Dolby Laboratories by 0.4% in the 4th quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker’s stock valued at $2,791,000 after acquiring an additional 160 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Dolby Laboratories by 10,441,900.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker’s stock valued at $8,123,000 after purchasing an additional 104,419 shares during the last quarter. Finally, Arlington Trust Co LLC increased its holdings in Dolby Laboratories by 15.0% during the 4th quarter. Arlington Trust Co LLC now owns 1,725 shares of the electronics maker’s stock worth $135,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Company Profile

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.