Dolby Laboratories (DLB) SVP Sells $9,220,636.15 in Stock

Dolby Laboratories (NYSE:DLB) SVP Bob Borchers sold 148,361 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $62.15, for a total transaction of $9,220,636.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Bob Borchers also recently made the following trade(s):

  • On Tuesday, November 28th, Bob Borchers sold 50,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $62.72, for a total transaction of $3,136,000.00.
  • On Monday, November 20th, Bob Borchers sold 33,179 shares of Dolby Laboratories stock. The stock was sold at an average price of $61.74, for a total transaction of $2,048,471.46.
  • On Wednesday, November 15th, Bob Borchers sold 50,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $61.00, for a total transaction of $3,050,000.00.
  • On Friday, November 17th, Bob Borchers sold 116,821 shares of Dolby Laboratories stock. The stock was sold at an average price of $61.15, for a total transaction of $7,143,604.15.

Dolby Laboratories (DLB) opened at $62.02 on Friday. Dolby Laboratories has a 1-year low of $44.99 and a 1-year high of $63.34. The stock has a market cap of $6,330.00, a PE ratio of 29.89, a P/E/G ratio of 2.31 and a beta of 0.82.

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 consensus estimate of $0.27 by $0.18. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.62%. The firm had revenue of $242.05 million during the quarter, compared to the consensus estimate of $244.80 million. During the same period last year, the firm posted $0.37 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. equities analysts anticipate that Dolby Laboratories will post 2.24 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, November 6th were issued a dividend of $0.16 per share. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, November 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is currently 32.99%.

A number of equities analysts have recently commented on the stock. B. Riley reaffirmed a “dlb (” rating and set a $61.50 price objective on shares of Dolby Laboratories in a report on Wednesday, August 23rd. Zacks Investment Research downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 31st. BidaskClub downgraded shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Piper Jaffray Companies reissued a “hold” rating and set a $52.00 price target (up from $49.00) on shares of Dolby Laboratories in a report on Wednesday, September 13th. Finally, Dougherty & Co reissued a “buy” rating and set a $63.00 price target on shares of Dolby Laboratories in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $60.17.

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Dolby Laboratories by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock valued at $114,000 after purchasing an additional 209 shares during the last quarter. US Bancorp DE lifted its holdings in Dolby Laboratories by 2.6% during the 2nd quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock valued at $149,000 after purchasing an additional 78 shares during the last quarter. Berkshire Asset Management LLC PA acquired a new stake in Dolby Laboratories in the 3rd quarter valued at about $200,000. CIBC Asset Management Inc acquired a new stake in Dolby Laboratories in the 3rd quarter valued at about $204,000. Finally, The Manufacturers Life Insurance Company increased its position in Dolby Laboratories by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after acquiring an additional 725 shares in the last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.

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Dolby Laboratories Company Profile

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.

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