Dolby Laboratories, Inc. (DLB) Major Shareholder Sells $3,252,500.00 in Stock

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Dolby Laboratories, Inc. (NYSE:DLB) major shareholder Dagmar Dolby sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $65.05, for a total transaction of $3,252,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Dagmar Dolby also recently made the following trade(s):

  • On Wednesday, May 8th, Dagmar Dolby sold 46,781 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.12, for a total transaction of $3,046,378.72.
  • On Friday, May 3rd, Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.73, for a total transaction of $3,286,500.00.
  • On Monday, May 6th, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.49, for a total transaction of $6,549,000.00.
  • On Wednesday, May 1st, Dagmar Dolby sold 16,145 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.08, for a total transaction of $1,050,716.60.
  • On Wednesday, April 24th, Dagmar Dolby sold 29,200 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.01, for a total transaction of $1,898,292.00.
  • On Tuesday, April 16th, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.72, for a total transaction of $6,572,000.00.
  • On Friday, April 12th, Dagmar Dolby sold 96,567 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.22, for a total transaction of $6,298,099.74.
  • On Thursday, March 21st, Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.06, for a total transaction of $3,253,000.00.
  • On Tuesday, March 12th, Dagmar Dolby sold 21,465 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.00, for a total transaction of $1,395,225.00.
  • On Monday, March 4th, Dagmar Dolby sold 2,406 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.05, for a total transaction of $156,510.30.

DLB stock traded down $2.21 on Friday, hitting $62.38. The company’s stock had a trading volume of 11,318 shares, compared to its average volume of 429,332. Dolby Laboratories, Inc. has a 1 year low of $58.17 and a 1 year high of $72.04. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.86.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. Dolby Laboratories had a net margin of 24.93% and a return on equity of 11.12%. The firm had revenue of $338.26 million during the quarter, compared to the consensus estimate of $337.45 million. During the same quarter in the prior year, the firm earned $0.73 EPS. Dolby Laboratories’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, research analysts anticipate that Dolby Laboratories, Inc. will post 2.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be given a $0.19 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.76 annualized dividend and a yield of 1.22%. Dolby Laboratories’s dividend payout ratio (DPR) is 31.67%.

DLB has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Thursday, January 24th. Barrington Research restated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 31st. Finally, ValuEngine downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $76.50.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in shares of Dolby Laboratories by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 387,103 shares of the electronics maker’s stock worth $27,086,000 after purchasing an additional 5,831 shares during the period. JPMorgan Chase & Co. grew its stake in Dolby Laboratories by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 61,880 shares of the electronics maker’s stock valued at $4,329,000 after acquiring an additional 15,497 shares during the last quarter. Legal & General Group Plc grew its stake in Dolby Laboratories by 8.4% in the 3rd quarter. Legal & General Group Plc now owns 36,145 shares of the electronics maker’s stock valued at $2,529,000 after acquiring an additional 2,805 shares during the last quarter. Morgan Stanley grew its stake in Dolby Laboratories by 3.1% in the 3rd quarter. Morgan Stanley now owns 45,850 shares of the electronics maker’s stock valued at $3,208,000 after acquiring an additional 1,376 shares during the last quarter. Finally, Vanguard Group Inc grew its stake in Dolby Laboratories by 4.0% in the 3rd quarter. Vanguard Group Inc now owns 5,508,279 shares of the electronics maker’s stock valued at $385,415,000 after acquiring an additional 209,633 shares during the last quarter. Hedge funds and other institutional investors own 55.59% of the company’s stock.

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About Dolby Laboratories

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, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

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