Dolby Laboratories (NYSE:DLB) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Dolby Laboratories (NYSE:DLB) from a strong-buy rating to a buy rating in a report published on Friday morning.

Several other research analysts have also recently issued reports on DLB. Rosenblatt Securities reaffirmed 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 issued a $100.00 target price on shares of Dolby Laboratories in a research note on Monday, January 27th.

Dolby Laboratories Stock Down 4.2 %

Shares of DLB opened at $83.63 on Friday. The stock has a market cap of $7.98 billion, a P/E ratio of 30.75 and a beta of 0.98. The business’s fifty day moving average is $79.35 and its 200 day moving average is $75.76. Dolby Laboratories has a 12-month low of $66.35 and a 12-month high of $89.66.

Dolby Laboratories Dividend Announcement

The firm also recently declared 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, February 11th. Dolby Laboratories’s payout ratio is 48.53%.

Insiders Place Their Bets

In other Dolby Laboratories news, CAO Ryan Nicholson sold 10,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total value of $841,890.00. Following the transaction, the chief accounting officer now directly owns 24,364 shares in the company, valued at $1,953,505.52. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John D. Couling sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.50, for a total transaction of $563,500.00. Following the sale, the senior vice president now owns 106,806 shares of the company’s stock, valued at approximately $8,597,883. The trade was a 6.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,917 shares of company stock valued at $10,877,739. Insiders own 38.39% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of Dolby Laboratories by 4.3% in the third 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 position 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 acquiring an additional 15,546 shares during the last quarter. Barclays PLC raised its position in Dolby Laboratories by 80.5% in the 3rd quarter. Barclays PLC now owns 33,230 shares of the electronics maker’s stock worth $2,544,000 after purchasing an additional 14,825 shares during the period. Boston Trust Walden Corp lifted its stake in shares of Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after acquiring an additional 698,283 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Dolby Laboratories in the third quarter valued at approximately $3,031,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

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.