Dolby Laboratories, Inc. (NYSE:DLB - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $89.66 and last traded at $87.20, with a volume of 945349 shares. The stock had previously closed at $80.63.
Analyst Ratings Changes
Several research analysts have issued reports on the company. StockNews.com cut Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday. Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday. Finally, Barrington Research reissued an "outperform" rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Monday, January 27th.
Check Out Our Latest Analysis on Dolby Laboratories
Dolby Laboratories Price Performance
The company has a 50-day moving average of $79.35 and a two-hundred day moving average of $75.69. The stock has a market capitalization of $8.03 billion, a PE ratio of 30.94 and a beta of 0.98.
Dolby Laboratories Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.57%. Dolby Laboratories's payout ratio is currently 48.53%.
Insider Activity at Dolby Laboratories
In other Dolby Laboratories news, SVP John D. Couling sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.50, for a total transaction of $563,500.00. Following the completion of the sale, the senior vice president now owns 106,806 shares in the company, valued at $8,597,883. This trade represents a 6.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $479,997.84. Following the completion of the transaction, the director now owns 37,593 shares of the company's stock, valued at approximately $2,968,343.28. The trade was a 13.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,917 shares of company stock worth $10,877,739. 38.39% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp grew its position in shares of Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock worth $28,000 after acquiring an additional 163 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker's stock worth $29,000 after acquiring an additional 301 shares in the last quarter. Mather Group LLC. boosted its position in Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker's stock valued at $41,000 after purchasing an additional 142 shares during the period. GAMMA Investing LLC boosted its position in Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after purchasing an additional 525 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker's stock valued at $60,000 after purchasing an additional 146 shares during the period. Institutional investors and hedge funds own 58.56% of the company's stock.
About Dolby Laboratories
(
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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.
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