Dolby Laboratories, Inc. (DLB) CEO Sells $3,066,000.00 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) CEO Kevin J. Yeaman sold 50,000 shares of Dolby Laboratories stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $61.32, for a total value of $3,066,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kevin J. Yeaman also recently made the following trade(s):

  • On Thursday, February 8th, Kevin J. Yeaman sold 100,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $62.33, for a total value of $6,233,000.00.
  • On Monday, December 18th, Kevin J. Yeaman sold 11,130 shares of Dolby Laboratories stock. The stock was sold at an average price of $62.47, for a total value of $695,291.10.
  • On Tuesday, December 19th, Kevin J. Yeaman sold 17,590 shares of Dolby Laboratories stock. The stock was sold at an average price of $62.45, for a total value of $1,098,495.50.

Shares of Dolby Laboratories, Inc. (NYSE DLB) traded up $0.21 during trading hours on Friday, reaching $60.19. The company’s stock had a trading volume of 579,102 shares, compared to its average volume of 417,696. Dolby Laboratories, Inc. has a one year low of $47.41 and a one year high of $74.29. The firm has a market capitalization of $6,180.00, a P/E ratio of 95.54, a PEG ratio of 5.31 and a beta of 0.78.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.35. Dolby Laboratories had a return on equity of 12.02% and a net margin of 6.06%. The company had revenue of $287.80 million during the quarter, compared to the consensus estimate of $265.75 million. During the same period in the previous year, the company posted $0.66 earnings per share. Dolby Laboratories’s revenue for the quarter was up 8.1% on a year-over-year basis. equities analysts expect that Dolby Laboratories, Inc. will post 0.99 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, February 2nd. Dolby Laboratories’s payout ratio is presently 101.59%.

A number of large investors have recently made changes to their positions in the business. Group One Trading L.P. lifted its holdings in Dolby Laboratories by 707.3% in the fourth quarter. Group One Trading L.P. now owns 36,327 shares of the electronics maker’s stock valued at $2,252,000 after acquiring an additional 31,827 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in Dolby Laboratories by 14.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 65,959 shares of the electronics maker’s stock valued at $4,089,000 after acquiring an additional 8,517 shares during the period. BlackRock Inc. lifted its holdings in Dolby Laboratories by 0.8% in the fourth quarter. BlackRock Inc. now owns 3,092,122 shares of the electronics maker’s stock valued at $191,712,000 after acquiring an additional 25,262 shares during the period. Schroder Investment Management Group lifted its holdings in Dolby Laboratories by 35.1% in the fourth quarter. Schroder Investment Management Group now owns 837,657 shares of the electronics maker’s stock valued at $51,935,000 after acquiring an additional 217,773 shares during the period. Finally, Eagle Boston Investment Management Inc. acquired a new position in Dolby Laboratories in the fourth quarter valued at approximately $202,000. 53.01% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on DLB shares. B. Riley set a $66.00 target price on Dolby Laboratories and gave the stock a “buy” rating in a report on Thursday, October 19th. Zacks Investment Research downgraded Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, JPMorgan Chase & Co. boosted their price target on Dolby Laboratories from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Dolby Laboratories currently has an average rating of “Hold” and a consensus price target of $62.00.

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About Dolby Laboratories

Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.

Insider Buying and Selling by Quarter for Dolby Laboratories (NYSE:DLB)

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