Dolby Laboratories, Inc. (NYSE:DLB) CMO Todd Pendleton Sells 18,121 Shares

Dolby Laboratories, Inc. (NYSE:DLB) CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now directly owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Dolby Laboratories Price Performance

Shares of NYSE:DLB traded down $0.90 on Friday, hitting $81.42. 646,093 shares of the company’s stock were exchanged, compared to its average volume of 481,564. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $89.66. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 29.94 and a beta of 0.98. The business’s 50 day simple moving average is $80.56 and its two-hundred day simple moving average is $76.25.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.62%. Dolby Laboratories’s dividend payout ratio (DPR) is 48.53%.

Wall Street Analyst Weigh In

Several research analysts have commented on DLB shares. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th. StockNews.com lowered shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th.

Institutional Trading of Dolby Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp lifted its position in shares of Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 163 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 301 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after acquiring an additional 142 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Dolby Laboratories in the fourth quarter valued at about $57,000. Finally, GAMMA Investing LLC raised its holdings in shares of Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock valued at $61,000 after acquiring an additional 525 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

About Dolby Laboratories

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.