Dolby Laboratories, Inc. (NYSE:DLB) CEO Sells $2,578,371.21 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) CEO Kevin J. Yeaman sold 29,457 shares of the company’s stock in a transaction on Tuesday, October 12th. The shares were sold at an average price of $87.53, for a total value of $2,578,371.21. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Kevin J. Yeaman also recently made the following trade(s):

  • On Tuesday, September 14th, Kevin J. Yeaman sold 29,457 shares of Dolby Laboratories stock. The shares were sold at an average price of $94.87, for a total value of $2,794,585.59.

NYSE DLB traded up $0.31 on Wednesday, reaching $88.04. The stock had a trading volume of 337,341 shares, compared to its average volume of 425,681. The business has a 50 day moving average price of $94.86 and a 200 day moving average price of $97.38. Dolby Laboratories, Inc. has a 1 year low of $67.17 and a 1 year high of $104.74. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 31.29, a P/E/G ratio of 2.52 and a beta of 0.96.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, July 29th. The electronics maker reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.22. Dolby Laboratories had a return on equity of 11.41% and a net margin of 23.11%. The firm had revenue of $286.80 million for the quarter, compared to the consensus estimate of $276.06 million. On average, research analysts forecast that Dolby Laboratories, Inc. will post 2.89 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Wednesday, August 11th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, August 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.00%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 38.26%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DLB. Jackson Square Partners LLC boosted its stake in shares of Dolby Laboratories by 28.3% during the 1st quarter. Jackson Square Partners LLC now owns 2,777,559 shares of the electronics maker’s stock worth $274,200,000 after acquiring an additional 612,019 shares in the last quarter. Morgan Stanley boosted its stake in shares of Dolby Laboratories by 830.2% during the 1st quarter. Morgan Stanley now owns 543,060 shares of the electronics maker’s stock worth $53,610,000 after acquiring an additional 484,678 shares in the last quarter. Atlanta Capital Management Co. L L C boosted its stake in shares of Dolby Laboratories by 17.3% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 3,276,117 shares of the electronics maker’s stock worth $322,010,000 after acquiring an additional 482,734 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Dolby Laboratories by 461.3% during the 2nd quarter. Lazard Asset Management LLC now owns 508,201 shares of the electronics maker’s stock worth $49,950,000 after acquiring an additional 417,665 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its stake in shares of Dolby Laboratories by 18.1% during the 1st quarter. Polar Capital Holdings Plc now owns 1,654,505 shares of the electronics maker’s stock worth $163,333,000 after acquiring an additional 253,895 shares in the last quarter. Institutional investors own 59.11% of the company’s stock.

Separately, Barrington Research raised Dolby Laboratories from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research report on Monday, August 2nd.

Dolby Laboratories Company Profile

Dolby Laboratoties, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast, and entertainment industries. Its products include Cinema Imaging, Cinema Audio, Dolby Conference Phone, Dolby Voice Room, and Other Products. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.

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