Dolby Laboratories (NYSE:DLB) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Dolby Laboratories (NYSE:DLB) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.

A number of other equities analysts also recently issued reports on DLB. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a report on Wednesday, November 20th. Rosenblatt Securities lifted their price objective on shares of Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th.

Dolby Laboratories Trading Down 0.2 %

DLB opened at $79.15 on Wednesday. The company’s fifty day moving average price is $75.51 and its two-hundred day moving average price is $75.83. Dolby Laboratories has a 1-year low of $66.35 and a 1-year high of $90.06. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 29.21 and a beta of 0.98.

Dolby Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.67%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 48.71%.

Insider Transactions at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.54, for a total value of $4,027,000.00. Following the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at approximately $6,742,889.34. The trade was a 37.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Ryan Nicholson sold 10,500 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $80.18, for a total transaction of $841,890.00. Following the transaction, the chief accounting officer now owns 24,364 shares of the company’s stock, valued at $1,953,505.52. This represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,091 shares of company stock worth $12,027,697 in the last ninety days. Company insiders own 39.54% of the company’s stock.

Institutional Trading of Dolby Laboratories

A number of institutional investors have recently modified their holdings of DLB. LRI Investments LLC grew its stake in Dolby Laboratories by 6.0% in the 2nd quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock valued at $182,000 after buying an additional 130 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 146 shares during the period. Signaturefd LLC grew its position in shares of Dolby Laboratories by 5.1% in the second quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock valued at $251,000 after purchasing an additional 153 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in shares of Dolby Laboratories by 1.3% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock valued at $1,095,000 after purchasing an additional 174 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in Dolby Laboratories by 3.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,376 shares of the electronics maker’s stock worth $411,000 after purchasing an additional 182 shares in the last quarter. 58.56% of the stock is currently owned by hedge funds and other 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.