Dolby Laboratories' (DLB) "Outperform" Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of Dolby Laboratories (NYSE:DLB - Free Report) in a report published on Thursday morning,Benzinga reports. Barrington Research currently has a $100.00 target price on the electronics maker's stock.

A number of other equities analysts have also recently weighed in on DLB. StockNews.com cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a report on Friday, January 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Thursday, January 30th.

Dolby Laboratories Stock Down 0.7 %

Shares of NYSE DLB traded down $0.56 during trading hours on Thursday, reaching $83.72. 440,257 shares of the stock traded hands, compared to its average volume of 503,875. The company has a market capitalization of $7.99 billion, a P/E ratio of 30.78 and a beta of 0.98. Dolby Laboratories has a 52-week low of $66.35 and a 52-week high of $89.66. The company's 50-day simple moving average is $80.26 and its two-hundred day simple moving average is $76.06.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.58%. Dolby Laboratories's dividend payout ratio (DPR) is currently 48.53%.

Insiders Place Their Bets

In related news, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $78.96, for a total transaction of $479,997.84. Following the sale, the director now directly owns 37,593 shares in the company, valued at $2,968,343.28. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories 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 in the company, valued at $5,296,257.36. This represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,917 shares of company stock valued at $14,861,429 in the last ninety days. Company insiders own 38.39% of the company's stock.

Institutional Investors Weigh In On Dolby Laboratories

Several hedge funds have recently made changes to their positions in the company. Savant Capital LLC boosted its position in shares of Dolby Laboratories by 2.0% during the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker's stock valued at $490,000 after purchasing an additional 125 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Dolby Laboratories by 0.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker's stock worth $1,525,000 after acquiring an additional 132 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Dolby Laboratories by 5.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker's stock worth $201,000 after acquiring an additional 136 shares in the last quarter. Mather Group LLC. boosted its holdings in Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock worth $41,000 after acquiring an additional 142 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock worth $60,000 after acquiring an additional 146 shares in the last quarter. 58.56% of the stock is currently owned by 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.