Dolby Laboratories (NYSE:DLB) Upgraded at StockNews.com

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

Other equities research analysts also recently issued research reports about the company. Rosenblatt Securities raised their target price on Dolby Laboratories from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Wednesday, November 20th.

Dolby Laboratories Stock Performance

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

Dolby Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, December 3rd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.67%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio is presently 48.71%.

Insider Activity at Dolby Laboratories

In related news, SVP John D. Couling sold 50,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $80.04, for a total value of $4,002,000.00. Following the transaction, the senior vice president now owns 106,806 shares in the company, valued at $8,548,752.24. The trade was a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Gotcher sold 6,079 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total transaction of $479,997.84. Following the completion of the transaction, the director now owns 37,593 shares in the company, valued at approximately $2,968,343.28. The trade was a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,091 shares of company stock worth $12,027,697 over the last three months. Company insiders own 39.54% of the company’s stock.

Hedge Funds Weigh In On Dolby Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the company. LRI Investments LLC grew its holdings in Dolby Laboratories by 6.0% in the second quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock worth $182,000 after purchasing an additional 130 shares during the period. First Horizon Advisors Inc. grew its holdings in 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 purchasing an additional 146 shares during the period. Signaturefd LLC grew its holdings in Dolby Laboratories by 5.1% in the second quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock worth $251,000 after purchasing an additional 153 shares during the period. Mitchell & Pahl Private Wealth LLC grew its holdings in Dolby Laboratories by 1.3% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock worth $1,095,000 after purchasing an additional 174 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in Dolby Laboratories by 3.5% in the third 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 during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

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.