Dolby Laboratories (NYSE:DLB) Downgraded to Buy Rating by StockNews.com

StockNews.com cut shares of Dolby Laboratories (NYSE:DLB) from a strong-buy rating to a buy rating in a report issued on Friday morning.

DLB has been the subject of a number of other reports. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Monday, January 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday.

Dolby Laboratories Stock Down 4.2 %

Shares of Dolby Laboratories stock opened at $83.63 on Friday. The company has a market cap of $7.98 billion, a PE ratio of 30.75 and a beta of 0.98. Dolby Laboratories has a 52 week low of $66.35 and a 52 week high of $89.66. The business has a 50 day moving average price of $79.35 and a 200-day moving average price of $75.69.

Dolby Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.58%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Insider Transactions at Dolby Laboratories

In related news, Director Peter C. Gotcher sold 6,079 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $78.96, for a total transaction of $479,997.84. Following the transaction, the director now owns 37,593 shares in the company, valued at $2,968,343.28. The trade was a 13.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John D. Couling sold 7,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.50, for a total value of $563,500.00. Following the transaction, the senior vice president now owns 106,806 shares in the company, valued at approximately $8,597,883. This represents a 6.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,917 shares of company stock worth $10,877,739. Company insiders own 38.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. State Street Corp increased its holdings in Dolby Laboratories by 1.5% during the 3rd quarter. State Street Corp now owns 1,931,586 shares of the electronics maker’s stock valued at $147,824,000 after purchasing an additional 29,289 shares during the period. Geode Capital Management LLC increased its holdings in Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock valued at $117,767,000 after purchasing an additional 63,293 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Dolby Laboratories by 4.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after purchasing an additional 63,589 shares during the period. Boston Trust Walden Corp increased its holdings in Dolby Laboratories by 0.9% during the 4th quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker’s stock valued at $84,715,000 after purchasing an additional 9,624 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in Dolby Laboratories by 5.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock valued at $21,771,000 after acquiring an additional 15,546 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Company Profile

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.