Barrington Research Reaffirms “Outperform” Rating for Dolby Laboratories (NYSE:DLB)

Barrington Research restated their outperform rating on shares of Dolby Laboratories (NYSE:DLB) in a research note released on Thursday,Benzinga reports. The brokerage currently has a $100.00 price target on the electronics maker’s stock.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th.

Dolby Laboratories Stock Performance

DLB stock opened at $83.72 on Thursday. Dolby Laboratories has a fifty-two week low of $66.35 and a fifty-two week high of $89.66. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 30.78 and a beta of 0.98. The business’s 50 day moving average price is $80.26 and its two-hundred day moving average price is $76.07.

Dolby Laboratories Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.58%. Dolby Laboratories’s dividend payout ratio (DPR) is 48.53%.

Insiders Place Their Bets

In related news, CAO Ryan Nicholson sold 7,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the sale, the chief accounting officer now owns 29,758 shares in the company, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the transaction, the executive vice president now directly owns 62,397 shares in the company, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,917 shares of company stock valued at $14,861,429. Company insiders own 38.39% of the company’s stock.

Institutional Trading of Dolby Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after acquiring an additional 63,293 shares during the period. Lord Abbett & CO. LLC grew its holdings in Dolby Laboratories by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock valued at $21,771,000 after purchasing an additional 15,546 shares during the period. Barclays PLC increased its position in Dolby Laboratories by 80.5% in the third quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock worth $2,544,000 after buying an additional 14,825 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Dolby Laboratories by 185.3% in the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after buying an additional 698,283 shares during the period. Finally, Algert Global LLC lifted its position in shares of Dolby Laboratories by 52.0% during the 3rd quarter. Algert Global LLC now owns 48,822 shares of the electronics maker’s stock valued at $3,736,000 after buying an additional 16,700 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

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.