Dolby Laboratories, Inc. (NYSE:DLB) Declares Quarterly Dividend of $0.33

Dolby Laboratories, Inc. (NYSE:DLB - Get Free Report) declared a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Shareholders of record on Tuesday, February 11th will be given a dividend of 0.33 per share by the electronics maker on Wednesday, February 19th. This represents a $1.32 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, February 11th.

Dolby Laboratories has raised its dividend by an average of 10.6% annually over the last three years. Dolby Laboratories has a payout ratio of 30.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dolby Laboratories to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 42.2%.

Dolby Laboratories Stock Up 0.5 %

DLB traded up $0.42 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 has a 12-month low of $66.35 and a 12-month high of $89.66. The business's fifty day simple moving average is $79.42 and its 200 day simple moving average is $75.71. The company has a market cap of $8.03 billion, a PE ratio of 30.94 and a beta of 0.98.

Insiders Place Their Bets

In related news, EVP Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04. Following the transaction, the executive vice president now directly owns 62,397 shares of the company's stock, valued at $4,871,957.76. The trade was a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Gotcher sold 6,079 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the transaction, the director now owns 37,593 shares of the company's stock, valued at approximately $2,968,343.28. This trade represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 135,917 shares of company stock valued at $10,877,739. Company insiders own 38.39% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DLB. Barrington Research restated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Monday, January 27th. StockNews.com downgraded shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday.

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.