Dolby Laboratories, Inc. Plans Quarterly Dividend of $0.33 (NYSE:DLB)

Dolby Laboratories, Inc. (NYSE:DLB) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Stockholders of record on Tuesday, February 11th will be given a dividend of 0.33 per share by the electronics maker on Wednesday, February 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, February 11th.

Dolby Laboratories has increased its dividend by an average of 10.6% annually over the last three years. Dolby Laboratories has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dolby Laboratories to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 42.2%.

Dolby Laboratories Stock Performance

Shares of DLB stock traded up $6.57 during mid-day trading on Thursday, reaching $87.20. The company’s stock had a trading volume of 945,349 shares, compared to its average volume of 476,982. The company has a market cap of $8.32 billion, a P/E ratio of 32.18 and a beta of 0.98. The firm’s 50-day moving average is $79.15 and its two-hundred day moving average is $75.65. Dolby Laboratories has a 1-year low of $66.35 and a 1-year high of $89.66.

Analyst Ratings Changes

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

Insider Activity

In related news, SVP John D. Couling sold 50,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $80.04, for a total value of $4,002,000.00. Following the transaction, the senior vice president now directly owns 106,806 shares in the company, valued at $8,548,752.24. This represents a 31.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $479,997.84. Following the completion of the transaction, the director now directly owns 37,593 shares in the company, valued at approximately $2,968,343.28. The trade was a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,917 shares of company stock worth $10,877,739. 38.39% of the stock is owned by corporate insiders.

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.