Dolby Laboratories, Inc. (NYSE:DLB) CEO Kevin J. Yeaman Sells 28,512 Shares

Dolby Laboratories, Inc. (NYSE:DLB) CEO Kevin J. Yeaman sold 28,512 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the transaction, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dolby Laboratories Stock Performance

DLB stock opened at $74.07 on Friday. The firm has a market cap of $7.10 billion, a PE ratio of 37.79 and a beta of 0.97. The firm’s fifty day moving average is $72.33 and its 200 day moving average is $77.16. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $90.06.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.33 by $0.14. The company had revenue of $288.82 million for the quarter, compared to analyst estimates of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. Research analysts predict that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current fiscal year.

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

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were given a $0.30 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.62%. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

Institutional Trading of Dolby Laboratories

Several institutional investors have recently modified their holdings of DLB. Acadian Asset Management LLC grew its position in shares of Dolby Laboratories by 39.8% in the second quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock valued at $51,698,000 after purchasing an additional 185,884 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Dolby Laboratories by 27.0% in the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock valued at $62,817,000 after purchasing an additional 168,744 shares during the period. Vanguard Group Inc. grew its position in shares of Dolby Laboratories by 1.7% in the first quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock valued at $544,711,000 after purchasing an additional 107,713 shares during the period. AQR Capital Management LLC grew its position in shares of Dolby Laboratories by 16.2% in the second quarter. AQR Capital Management LLC now owns 627,160 shares of the electronics maker’s stock valued at $49,690,000 after purchasing an additional 87,298 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Dolby Laboratories in the second quarter valued at about $6,131,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, September 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.