Dolby Laboratories, Inc. (NYSE:DLB) EVP Sells $3,395,200.00 in Stock

Dolby Laboratories, Inc. (NYSE:DLB - Get Free Report) EVP Mark Andrew Sherman sold 40,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 62,397 shares of the company's stock, valued at $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mark Andrew Sherman also recently made the following trade(s):

• On Tuesday, December 17th, Mark Andrew Sherman sold 12,338 shares of Dolby Laboratories stock. The stock was sold at an average price of $78.08, for a total transaction of $963,351.04.

Dolby Laboratories Price Performance

Shares of DLB traded down $0.62 during trading hours on Friday, hitting $83.81. The stock had a trading volume of 419,805 shares, compared to its average volume of 482,754. The firm has a market capitalization of $8.00 billion, a PE ratio of 30.81 and a beta of 0.98. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66. The stock has a fifty day moving average price of $79.76 and a 200 day moving average price of $75.87.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, February 11th. Dolby Laboratories's payout ratio is currently 48.53%.

Hedge Funds Weigh In On Dolby Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in shares of Dolby Laboratories by 64.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock worth $376,948,000 after acquiring an additional 1,887,518 shares during the last quarter. Boston Trust Walden Corp lifted its position in shares of Dolby Laboratories by 185.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock valued at $82,276,000 after buying an additional 698,283 shares in the last quarter. Clifford Capital Partners LLC boosted its position in shares of Dolby Laboratories by 3,114.7% in the third quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker's stock worth $20,707,000 after purchasing an additional 262,162 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Dolby Laboratories by 10,441,900.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,420 shares of the electronics maker's stock valued at $8,123,000 after acquiring an additional 104,419 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Dolby Laboratories by 496.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker's stock valued at $7,823,000 after purchasing an additional 85,093 shares during the period. Hedge funds and other institutional investors own 58.56% of the company's stock.

Analysts Set New Price Targets

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

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.