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

Dolby Laboratories (NYSE:DLB) SVP Shriram Revankar sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $66.14, for a total value of $198,420.00. Following the sale, the senior vice president directly owned 83,218 shares of the company’s stock, valued at approximately $5,504,038.52. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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 transaction of $196,650.00.

Dolby Laboratories Stock Down 3.4%

Dolby Laboratories stock opened at $63.76 on Wednesday. The company has a 50 day moving average of $64.71 and a 200-day moving average of $67.95. Dolby Laboratories has a twelve month low of $60.14 and a twelve month high of $85.21. The stock has a market capitalization of $6.09 billion, a PE ratio of 25.71 and a beta of 0.86.

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

Dolby Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Dolby Laboratories

Several institutional investors have recently made changes to their positions in DLB. First Horizon Corp acquired a new position in Dolby Laboratories in the 3rd quarter valued at $25,000. Hantz Financial Services Inc. increased its position in shares of Dolby Laboratories by 166.7% in the third quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 220 shares during the period. Allworth Financial LP increased its position in shares of Dolby Laboratories by 590.4% in the second quarter. Allworth Financial LP now owns 504 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 431 shares during the period. Mather Group LLC. acquired a new position in Dolby Laboratories in the third quarter valued at about $38,000. Finally, Rothschild Investment LLC lifted its position in Dolby Laboratories by 4,046.7% during the third quarter. Rothschild Investment LLC now owns 622 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 607 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Company Profile

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.