Dolby Laboratories, Inc. (DLB) Major Shareholder Sells $6,572,000.00 in Stock

Dolby Laboratories, Inc. (NYSE:DLB) major shareholder Dagmar Dolby sold 100,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $65.72, for a total transaction of $6,572,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% 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, May 8th, Dagmar Dolby sold 46,781 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.12, for a total transaction of $3,046,378.72.
  • On Friday, May 3rd, Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.73, for a total transaction of $3,286,500.00.
  • On Monday, May 6th, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.49, for a total transaction of $6,549,000.00.
  • On Wednesday, May 1st, Dagmar Dolby sold 16,145 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.08, for a total transaction of $1,050,716.60.
  • On Wednesday, April 24th, Dagmar Dolby sold 29,200 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.01, for a total transaction of $1,898,292.00.
  • On Friday, April 12th, Dagmar Dolby sold 96,567 shares of Dolby Laboratories stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $65.05, for a total transaction of $6,242,393.15.

Shares of DLB opened at $63.83 on Friday. The firm has a market capitalization of $6.76 billion, a P/E ratio of 26.60, a P/E/G ratio of 2.21 and a beta of 0.86. Dolby Laboratories, Inc. has a 52-week low of $58.17 and a 52-week high of $72.04.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $338.26 million during the quarter, compared to the consensus estimate of $337.45 million. Dolby Laboratories had a return on equity of 11.26% and a net margin of 24.93%. Dolby Laboratories’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share. On average, analysts anticipate that Dolby Laboratories, Inc. will post 2.29 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.19%. Dolby Laboratories’s dividend payout ratio is presently 31.67%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC bought a new stake in shares of Dolby Laboratories during the fourth quarter worth $27,000. Essex Savings Bank bought a new stake in shares of Dolby Laboratories during the fourth quarter worth $28,000. Cutler Group LP bought a new stake in shares of Dolby Laboratories during the fourth quarter worth $30,000. Enlightenment Research LLC bought a new stake in shares of Dolby Laboratories during the fourth quarter worth $31,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Dolby Laboratories during the fourth quarter worth $43,000. Institutional investors own 56.15% of the company’s stock.

A number of research analysts recently weighed in on DLB shares. Zacks Investment Research raised shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. ValuEngine downgraded Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Barrington Research restated a “buy” rating and issued a $85.00 price target on shares of Dolby Laboratories in a research report on Thursday, January 31st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Dolby Laboratories presently has a consensus rating of “Buy” and a consensus target price of $76.50.

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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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