Insider Selling: Dolby Laboratories, Inc. (NYSE:DLB) CMO Sells 18,121 Shares of Stock

Dolby Laboratories, Inc. (NYSE:DLB) CMO Todd Pendleton sold 18,121 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total value of $1,517,633.75. Following the completion of the sale, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock opened at $81.42 on Monday. The company has a market capitalization of $7.77 billion, a P/E ratio of 29.94 and a beta of 0.98. The company has a fifty day moving average of $80.61 and a 200 day moving average of $76.35. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Creative Planning boosted its holdings in shares of Dolby Laboratories by 7.5% during the 3rd quarter. Creative Planning now owns 4,094 shares of the electronics maker’s stock valued at $313,000 after purchasing an additional 286 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Dolby Laboratories by 234.3% during the 3rd quarter. Blue Trust Inc. now owns 1,384 shares of the electronics maker’s stock valued at $110,000 after purchasing an additional 970 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Dolby Laboratories during the 3rd quarter valued at about $3,895,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Dolby Laboratories by 28.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 14,442 shares of the electronics maker’s stock valued at $1,105,000 after purchasing an additional 3,227 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Dolby Laboratories by 135.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 104,039 shares of the electronics maker’s stock valued at $7,962,000 after purchasing an additional 59,810 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DLB shares. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, February 13th.

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.