Insider Selling: Dolby Laboratories, Inc. (NYSE:DLB) CAO Sells 7,000 Shares of Stock

Dolby Laboratories, Inc. (NYSE:DLB - Get Free Report) CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares of the company's stock, valued at $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Ryan Nicholson also recently made the following trade(s):

• On Tuesday, November 26th, Ryan Nicholson sold 10,500 shares of Dolby Laboratories stock. The shares were sold at an average price of $80.18, for a total value of $841,890.00.

Dolby Laboratories Stock Up 1.4 %

DLB traded up $1.16 during trading on Monday, reaching $85.02. The company had a trading volume of 178,806 shares, compared to its average volume of 470,816. The stock has a market cap of $8.11 billion, a P/E ratio of 31.26 and a beta of 0.98. The business has a 50 day simple moving average of $79.87 and a 200-day simple moving average of $75.87. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66.

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 paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.55%. Dolby Laboratories's payout ratio is 48.53%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th. StockNews.com downgraded Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 31st. Finally, Barrington Research restated an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a research report on Monday, January 27th.

Institutional Trading of Dolby Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp increased its stake in shares of Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after buying an additional 163 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Dolby Laboratories by 436.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock valued at $29,000 after buying an additional 301 shares during the period. Mather Group LLC. increased its stake in shares of Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after buying an additional 142 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Dolby Laboratories by 22.7% during the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock valued at $60,000 after buying an additional 146 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Dolby Laboratories by 207.5% during the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after buying an additional 525 shares during the period. Hedge funds and other institutional investors own 58.56% of the company's stock.

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.