Dolby Laboratories, Inc. (NYSE:DLB) EVP Mark Andrew Sherman sold 10,000 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $70.00, for a total transaction of $700,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of NYSE:DLB opened at $70.11 on Thursday. The company has a market cap of $7.44 billion, a PE ratio of 27.63, a P/E/G ratio of 2.53 and a beta of 0.80. Dolby Laboratories, Inc. has a twelve month low of $48.89 and a twelve month high of $74.29.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Wednesday, July 25th. The electronics maker reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.23. The business had revenue of $317.45 million during the quarter, compared to the consensus estimate of $317.65 million. Dolby Laboratories had a net margin of 8.18% and a return on equity of 12.95%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. research analysts expect that Dolby Laboratories, Inc. will post 2.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Monday, August 6th were given a dividend of $0.16 per share. The ex-dividend date was Friday, August 3rd. This represents a $0.64 annualized dividend and a dividend yield of 0.91%. Dolby Laboratories’s dividend payout ratio is presently 29.09%.
A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Barrington Research reiterated a “buy” rating and issued a $78.00 price target on shares of Dolby Laboratories in a research note on Thursday, July 26th. B. Riley lifted their price target on shares of Dolby Laboratories from $61.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, July 26th. Finally, Zacks Investment Research downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $67.50.
Several large investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in shares of Dolby Laboratories by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 381,272 shares of the electronics maker’s stock worth $23,521,000 after buying an additional 1,841 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Dolby Laboratories by 50.1% during the 2nd quarter. Schroder Investment Management Group now owns 1,003,435 shares of the electronics maker’s stock worth $61,982,000 after buying an additional 335,024 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Dolby Laboratories by 49.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 209,156 shares of the electronics maker’s stock worth $12,903,000 after buying an additional 69,610 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Dolby Laboratories by 86.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,344,217 shares of the electronics maker’s stock worth $82,925,000 after buying an additional 622,618 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Dolby Laboratories by 97.8% in the 2nd quarter. Millennium Management LLC now owns 250,542 shares of the electronics maker’s stock valued at $15,456,000 after acquiring an additional 123,909 shares during the period. Institutional investors and hedge funds own 55.23% of the company’s stock.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, including Dolby Digital Plus for digital television, mobile, and Internet-based services; Dolby Digital, a digital audio coding technology that provides multichannel sound in the home; and AAC & HE-AAC, an audio coding technologies used to broadcast, download, and streaming content.
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