Insider Selling: Dolby Laboratories (DLB) SVP Sells 9,355 Shares of Stock

Dolby Laboratories (NYSE:DLB) SVP Steven E. Forshay sold 9,355 shares of Dolby Laboratories stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $57.86, for a total value of $541,280.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Steven E. Forshay also recently made the following trade(s):

  • On Friday, November 3rd, Steven E. Forshay sold 30,069 shares of Dolby Laboratories stock. The shares were sold at an average price of $59.00, for a total value of $1,774,071.00.

Shares of Dolby Laboratories (NYSE:DLB) opened at $60.65 on Monday. The stock has a market capitalization of $6,188.54, a PE ratio of 29.16, a PEG ratio of 2.28 and a beta of 0.83. Dolby Laboratories has a 1-year low of $44.98 and a 1-year high of $61.45.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.18. The business had revenue of $242.05 million during the quarter, compared to analyst estimates of $244.80 million. Dolby Laboratories had a return on equity of 10.73% and a net margin of 18.66%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. equities research analysts expect that Dolby Laboratories will post 2.22 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.06%. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, November 3rd. Dolby Laboratories’s payout ratio is currently 32.99%.

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A number of institutional investors and hedge funds have recently bought and sold shares of DLB. Spot Trading L.L.C. acquired a new stake in Dolby Laboratories in the 1st quarter worth approximately $660,000. Ameriprise Financial Inc. lifted its holdings in Dolby Laboratories by 0.4% in the 1st quarter. Ameriprise Financial Inc. now owns 15,650 shares of the electronics maker’s stock worth $821,000 after purchasing an additional 61 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Dolby Laboratories by 1.2% in the 1st quarter. Wellington Management Group LLP now owns 19,240 shares of the electronics maker’s stock worth $1,008,000 after purchasing an additional 219 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Dolby Laboratories by 5.5% in the 1st quarter. Teachers Advisors LLC now owns 138,445 shares of the electronics maker’s stock worth $7,256,000 after purchasing an additional 7,209 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Dolby Laboratories by 129.3% in the 1st quarter. Legal & General Group Plc now owns 18,387 shares of the electronics maker’s stock worth $964,000 after purchasing an additional 10,368 shares during the last quarter. Hedge funds and other institutional investors own 51.71% of the company’s stock.

Several equities analysts have weighed in on the company. B. Riley reaffirmed a “dlb (” rating and set a $61.50 target price on shares of Dolby Laboratories in a research note on Wednesday, August 23rd. BidaskClub cut Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research lowered Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $60.17.

About Dolby Laboratories

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.

Insider Buying and Selling by Quarter for Dolby Laboratories (NYSE:DLB)

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