Dolby Laboratories, Inc. (NYSE:DLB) EVP Sells $3,395,200.00 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total value of $3,395,200.00. Following the sale, the executive vice president now owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mark Andrew Sherman also recently made the following trade(s):

• On Tuesday, December 17th, Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock. The shares were sold at an average price of $78.08, for a total value of $963,351.04.

Dolby Laboratories Price Performance

Dolby Laboratories stock traded up $0.42 during trading hours on Monday, hitting $84.15. The company had a trading volume of 531,556 shares, compared to its average volume of 492,298. Dolby Laboratories, Inc. has a one year low of $66.35 and a one year high of $89.66. The firm has a market cap of $8.03 billion, a PE ratio of 30.94 and a beta of 0.98. The firm has a 50-day moving average of $79.42 and a 200 day moving average of $75.71.

Dolby Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Institutional Investors Weigh In On Dolby Laboratories

A number of hedge funds have recently made changes to their positions in DLB. Cubist Systematic Strategies LLC acquired a new stake in shares of Dolby Laboratories during the second quarter valued at about $146,000. Millennium Management LLC raised its position in Dolby Laboratories by 177.6% during the 2nd quarter. Millennium Management LLC now owns 48,415 shares of the electronics maker’s stock worth $3,836,000 after purchasing an additional 30,977 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Dolby Laboratories during the 2nd quarter worth about $2,460,000. Handelsbanken Fonder AB grew its position in shares of Dolby Laboratories by 66.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 21,616 shares of the electronics maker’s stock valued at $1,654,000 after buying an additional 8,600 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Dolby Laboratories by 27.9% in the third quarter. CWM LLC now owns 3,978 shares of the electronics maker’s stock valued at $304,000 after buying an additional 868 shares during the period. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DLB has been the topic of a number of research analyst reports. Barrington Research reissued an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Monday, January 27th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday. Finally, StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday.

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.