Dolby Laboratories (NYSE:DLB) Rating Lowered to Buy at StockNews.com

StockNews.com lowered shares of Dolby Laboratories (NYSE:DLB - Free Report) from a strong-buy rating to a buy rating in a report published on Tuesday morning.

Other equities research analysts also recently issued reports about the stock. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a research note on Wednesday, November 20th. Rosenblatt Securities raised their target price on shares of Dolby Laboratories from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th.

Dolby Laboratories Trading Up 0.0 %

Shares of Dolby Laboratories stock traded up $0.03 on Tuesday, reaching $80.33. The stock had a trading volume of 464,810 shares, compared to its average volume of 408,805. Dolby Laboratories has a 1 year low of $66.35 and a 1 year high of $90.06. The company has a market cap of $7.66 billion, a P/E ratio of 29.64 and a beta of 0.98. The business's 50 day moving average is $74.50 and its two-hundred day moving average is $75.96.

Dolby Laboratories declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 7th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Dolby Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be paid a $0.33 dividend. This is an increase from Dolby Laboratories's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, December 3rd. Dolby Laboratories's dividend payout ratio (DPR) is currently 48.71%.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the transaction, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,205,400.52. This trade represents a 25.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John D. Couling sold 7,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.50, for a total transaction of $563,500.00. Following the transaction, the senior vice president now owns 106,806 shares in the company, valued at $8,597,883. The trade was a 6.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,591 shares of company stock worth $7,158,807 over the last ninety days. Insiders own 39.54% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Affirmative Financial Network boosted its holdings in Dolby Laboratories by 4.9% in the second quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker's stock valued at $219,000 after acquiring an additional 129 shares in the last quarter. LRI Investments LLC boosted its holdings in Dolby Laboratories by 6.0% in the second quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker's stock valued at $182,000 after acquiring an additional 130 shares in the last quarter. 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 valued at $60,000 after acquiring an additional 146 shares in the last quarter. Signaturefd LLC boosted its holdings in Dolby Laboratories by 5.1% in the second quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker's stock valued at $251,000 after acquiring an additional 153 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its holdings in Dolby Laboratories by 1.3% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker's stock valued at $1,095,000 after acquiring an additional 174 shares in the last quarter. 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.