Dolby Laboratories (NYSE:DLB) SVP Shriram Revankar Sells 3,000 Shares

Dolby Laboratories (NYSE:DLB) SVP Shriram Revankar sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $66.14, for a total transaction of $198,420.00. Following the transaction, the senior vice president owned 83,218 shares in the company, valued at approximately $5,504,038.52. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shriram Revankar also recently made the following trade(s):

• On Friday, November 21st, Shriram Revankar sold 3,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.55, for a total value of $196,650.00.

Dolby Laboratories Price Performance

NYSE DLB traded down $2.26 on Tuesday, hitting $63.76. 815,095 shares of the company’s stock were exchanged, compared to its average volume of 865,044. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 25.71 and a beta of 0.86. The firm’s 50-day moving average price is $64.79 and its two-hundred day moving average price is $67.99. Dolby Laboratories has a fifty-two week low of $60.14 and a fifty-two week high of $85.21.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The firm had revenue of $346.71 million for the quarter, compared to the consensus estimate of $341.26 million. During the same period in the previous year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts predict that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.3%. Dolby Laboratories’s dividend payout ratio is 58.06%.

Analyst Upgrades and Downgrades

DLB has been the topic of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $85.00 target price on shares of Dolby Laboratories in a report on Friday, January 30th. Wall Street Zen lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Barrington Research cut their price objective on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, January 26th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Dolby Laboratories in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Dolby Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.75.

Institutional Trading of Dolby Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the stock. Boothbay Fund Management LLC raised its stake in shares of Dolby Laboratories by 4.1% in the 2nd quarter. Boothbay Fund Management LLC now owns 4,020 shares of the electronics maker’s stock valued at $299,000 after acquiring an additional 157 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its position in shares of Dolby Laboratories by 1.1% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 15,733 shares of the electronics maker’s stock valued at $1,139,000 after purchasing an additional 170 shares during the period. Covestor Ltd raised its position in shares of Dolby Laboratories by 6.0% in the fourth quarter. Covestor Ltd now owns 3,088 shares of the electronics maker’s stock valued at $198,000 after purchasing an additional 175 shares during the period. Fifth Third Bancorp lifted its stake in shares of Dolby Laboratories by 34.7% in the fourth quarter. Fifth Third Bancorp now owns 746 shares of the electronics maker’s stock worth $48,000 after buying an additional 192 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Dolby Laboratories by 13.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,587 shares of the electronics maker’s stock worth $118,000 after buying an additional 194 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

About Dolby Laboratories

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.