Dolby Laboratories (NYSE:DLB) Given Outperform Rating at Barrington Research

Barrington Research reiterated their outperform rating on shares of Dolby Laboratories (NYSE:DLB) in a research report sent to investors on Monday,Benzinga reports. Barrington Research currently has a $100.00 price target on the electronics maker’s stock.

Several other equities research analysts also recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 23rd. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th.

Dolby Laboratories Trading Up 1.8 %

Shares of DLB opened at $81.15 on Monday. The firm has a market cap of $7.75 billion, a PE ratio of 29.95 and a beta of 0.98. Dolby Laboratories has a 12 month low of $66.35 and a 12 month high of $85.30. The stock has a fifty day moving average price of $78.98 and a 200-day moving average price of $75.61.

Dolby Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Tuesday, December 3rd. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. Dolby Laboratories’s payout ratio is presently 48.71%.

Insider Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 7,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.50, for a total value of $563,500.00. Following the sale, the senior vice president now owns 106,806 shares in the company, valued at $8,597,883. This represents a 6.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ryan Nicholson sold 10,500 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total value of $841,890.00. Following the transaction, the chief accounting officer now owns 24,364 shares of the company’s stock, valued at approximately $1,953,505.52. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 135,917 shares of company stock worth $10,877,739 over the last three months. 38.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dolby Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Trust Walden Corp grew its position in Dolby Laboratories by 185.3% during the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock valued at $82,276,000 after buying an additional 698,283 shares during the period. Clifford Capital Partners LLC boosted its stake in shares of Dolby Laboratories by 3,114.7% during the 3rd quarter. Clifford Capital Partners LLC now owns 270,579 shares of the electronics maker’s stock worth $20,707,000 after acquiring an additional 262,162 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Dolby Laboratories by 496.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 102,223 shares of the electronics maker’s stock valued at $7,823,000 after acquiring an additional 85,093 shares during the period. Marshall Wace LLP purchased a new position in shares of Dolby Laboratories in the 2nd quarter valued at about $6,131,000. Finally, Disciplined Growth Investors Inc. MN raised its holdings in Dolby Laboratories by 4.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock worth $112,209,000 after purchasing an additional 63,589 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Company Profile

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.