Dolby Laboratories (DLB) Major Shareholder Sells $5,113,000.00 in Stock
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 100,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $51.13, for a total transaction of $5,113,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Dagmar Dolby also recently made the following trade(s):
- On Monday, August 7th, Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $51.26, for a total transaction of $2,563,000.00.
- On Friday, August 4th, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $51.13, for a total transaction of $5,113,000.00.
- On Wednesday, August 2nd, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $52.03, for a total transaction of $5,203,000.00.
- On Monday, July 31st, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $52.22, for a total transaction of $5,222,000.00.
Dolby Laboratories (NYSE DLB) traded up 0.31% during trading on Wednesday, hitting $51.08. The stock had a trading volume of 537,668 shares. The company’s 50-day moving average is $51.16 and its 200 day moving average is $50.67. Dolby Laboratories has a 52 week low of $44.99 and a 52 week high of $55.02. The firm has a market cap of $5.24 billion, a PE ratio of 26.13 and a beta of 0.79.
Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.10. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The company had revenue of $305.67 million for the quarter, compared to analyst estimates of $296.88 million. During the same quarter last year, the firm earned $0.62 EPS. Dolby Laboratories’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts expect that Dolby Laboratories will post $1.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, August 3rd. Dolby Laboratories’s payout ratio is presently 28.57%.
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Several hedge funds have recently made changes to their positions in DLB. Wells Fargo & Company MN raised its stake in shares of Dolby Laboratories by 9.0% in the first quarter. Wells Fargo & Company MN now owns 554,497 shares of the electronics maker’s stock valued at $29,061,000 after buying an additional 45,554 shares during the last quarter. Northeast Financial Consultants Inc purchased a new stake in shares of Dolby Laboratories during the first quarter valued at $229,000. Breton Hill Capital Ltd. raised its stake in shares of Dolby Laboratories by 202.6% in the first quarter. Breton Hill Capital Ltd. now owns 16,093 shares of the electronics maker’s stock valued at $843,000 after buying an additional 10,775 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Dolby Laboratories by 24.3% in the first quarter. Janney Montgomery Scott LLC now owns 21,663 shares of the electronics maker’s stock valued at $1,135,000 after buying an additional 4,233 shares during the last quarter. Finally, Cardinal Capital Management raised its stake in shares of Dolby Laboratories by 1.4% in the first quarter. Cardinal Capital Management now owns 21,093 shares of the electronics maker’s stock valued at $1,105,000 after buying an additional 300 shares during the last quarter. 50.46% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on DLB shares. B. Riley reiterated a “neutral” rating and issued a $57.00 price objective (up from $52.00) on shares of Dolby Laboratories in a research report on Tuesday, April 25th. Zacks Investment Research upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Friday, April 28th. Finally, BidaskClub downgraded shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Dolby Laboratories has an average rating of “Hold” and an average target price of $54.38.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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