Insider Selling: Dolby Laboratories, Inc. (DLB) Major Shareholder Sells 16,145 Shares of Stock

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Dolby Laboratories, Inc. (NYSE:DLB) major shareholder Dagmar Dolby sold 16,145 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $65.08, for a total transaction of $1,050,716.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Dagmar Dolby also recently made the following trade(s):

  • On Wednesday, April 24th, Dagmar Dolby sold 29,200 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.01, for a total transaction of $1,898,292.00.
  • On Tuesday, April 16th, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.72, for a total transaction of $6,572,000.00.
  • On Friday, April 12th, Dagmar Dolby sold 96,567 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.22, for a total transaction of $6,298,099.74.
  • On Thursday, March 21st, Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.06, for a total transaction of $3,253,000.00.
  • On Tuesday, March 12th, Dagmar Dolby sold 21,465 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.00, for a total transaction of $1,395,225.00.
  • On Monday, March 4th, Dagmar Dolby sold 2,406 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.05, for a total transaction of $156,510.30.
  • On Friday, March 1st, Dagmar Dolby sold 95,963 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.05, for a total transaction of $6,242,393.15.
  • On Wednesday, February 27th, Dagmar Dolby sold 98,543 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.24, for a total transaction of $6,428,945.32.
  • On Monday, February 25th, Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.67, for a total transaction of $3,283,500.00.
  • On Thursday, February 21st, Dagmar Dolby sold 69,885 shares of Dolby Laboratories stock. The stock was sold at an average price of $65.32, for a total transaction of $4,564,888.20.

Shares of DLB stock opened at $65.20 on Friday. The firm has a market cap of $6.64 billion, a P/E ratio of 27.17, a PEG ratio of 2.23 and a beta of 0.86. Dolby Laboratories, Inc. has a 12 month low of $58.17 and a 12 month high of $72.04.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, May 1st. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $338.26 million during the quarter, compared to the consensus estimate of $337.45 million. Dolby Laboratories had a net margin of 25.47% and a return on equity of 11.30%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Analysts expect that Dolby Laboratories, Inc. will post 2.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.17%. Dolby Laboratories’s payout ratio is currently 31.67%.

Hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC acquired a new position in shares of Dolby Laboratories during the fourth quarter worth $27,000. Essex Savings Bank acquired a new position in shares of Dolby Laboratories during the fourth quarter worth $28,000. Cutler Group LP acquired a new position in shares of Dolby Laboratories during the fourth quarter worth $30,000. Enlightenment Research LLC acquired a new position in shares of Dolby Laboratories during the fourth quarter worth $31,000. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Dolby Laboratories during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 56.07% of the company’s stock.

DLB has been the subject of several research reports. Zacks Investment Research upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Wednesday, January 16th. Barrington Research restated a “buy” rating and issued a $85.00 price target on shares of Dolby Laboratories in a research note on Thursday, January 31st. Finally, ValuEngine downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Dolby Laboratories presently has an average rating of “Buy” and an average target price of $75.75.

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About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

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