Dolby Laboratories (DLB) EVP Sells $650,000.00 in Stock

Dolby Laboratories (NYSE:DLB) EVP Mark Andrew Sherman sold 10,000 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Mark Andrew Sherman also recently made the following trade(s):

  • On Tuesday, December 19th, Mark Andrew Sherman sold 4,594 shares of Dolby Laboratories stock. The shares were sold at an average price of $62.45, for a total transaction of $286,895.30.
  • On Wednesday, October 18th, Mark Andrew Sherman sold 7,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $60.00, for a total transaction of $420,000.00.

Dolby Laboratories (DLB) traded down $2.24 during midday trading on Tuesday, reaching $63.11. 603,600 shares of the company were exchanged, compared to its average volume of 278,952. The company has a market capitalization of $6,480.00, a PE ratio of 32.53, a P/E/G ratio of 2.43 and a beta of 0.85. Dolby Laboratories has a twelve month low of $47.19 and a twelve month high of $65.56.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.18. The business had revenue of $242.05 million for the quarter, compared to analysts’ expectations of $244.80 million. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.62%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. research analysts forecast that Dolby Laboratories will post 2.24 EPS for the current fiscal year.

DLB has been the subject of a number of research analyst reports. B. Riley reaffirmed a “buy” rating and set a $65.50 price objective on shares of Dolby Laboratories in a research report on Thursday, October 26th. Zacks Investment Research cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $59.33.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its stake in Dolby Laboratories by 4.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 310,210 shares of the electronics maker’s stock valued at $15,188,000 after acquiring an additional 12,045 shares during the period. UBS Asset Management Americas Inc. increased its stake in Dolby Laboratories by 3.8% in the second quarter. UBS Asset Management Americas Inc. now owns 154,119 shares of the electronics maker’s stock valued at $7,546,000 after acquiring an additional 5,696 shares during the period. Principal Financial Group Inc. increased its stake in Dolby Laboratories by 11.7% in the second quarter. Principal Financial Group Inc. now owns 32,427 shares of the electronics maker’s stock valued at $1,588,000 after acquiring an additional 3,396 shares during the period. Intl Fcstone Inc. bought a new stake in Dolby Laboratories in the second quarter valued at about $345,000. Finally, Schroder Investment Management Group bought a new stake in Dolby Laboratories in the third quarter valued at about $35,761,000. 52.53% of the stock is currently owned by institutional investors and hedge funds.

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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.

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

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