Dolby Laboratories (NYSE:DLB) Major Shareholder Dagmar Dolby Sells 100,000 Shares

Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $52.22, for a total transaction of $5,222,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Wednesday, August 16th, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $49.71, for a total transaction of $4,971,000.00.
  • On Monday, August 14th, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $50.19, for a total transaction of $5,019,000.00.
  • On Wednesday, August 9th, Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $51.20, for a total transaction of $2,560,000.00.
  • On Thursday, August 10th, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $50.84, for a total transaction of $5,084,000.00.
  • On Monday, August 7th, Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $51.26, for a total transaction of $2,563,000.00.
  • On Tuesday, August 8th, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $51.13, for a total transaction of $5,113,000.00.
  • On Friday, August 4th, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $51.13, for a total transaction of $5,113,000.00.
  • On Wednesday, August 2nd, Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock. The stock was sold at an average price of $52.03, for a total transaction of $5,203,000.00.

Dolby Laboratories (DLB) traded down 0.53% during midday trading on Friday, reaching $48.42. 393,480 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $51.21 and its 200 day moving average is $50.76. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 24.77 and a beta of 0.79. Dolby Laboratories has a 52 week low of $44.99 and a 52 week high of $55.02.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Tuesday, July 25th. The electronics maker reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.10. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The firm had revenue of $305.67 million during the quarter, compared to analysts’ expectations of $296.88 million. During the same period in the previous year, the business earned $0.62 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts anticipate that Dolby Laboratories will post $1.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, August 7th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, August 3rd. Dolby Laboratories’s payout ratio is 28.57%.

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Hedge funds have recently modified their holdings of the company. Watermark Asset Management Inc. purchased a new stake in shares of Dolby Laboratories during the first quarter valued at approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Dolby Laboratories by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock valued at $114,000 after buying an additional 209 shares during the last quarter. James Investment Research Inc. purchased a new stake in shares of Dolby Laboratories during the first quarter valued at approximately $155,000. US Bancorp DE boosted its stake in shares of Dolby Laboratories by 4.8% in the first quarter. US Bancorp DE now owns 2,951 shares of the electronics maker’s stock valued at $155,000 after buying an additional 135 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Dolby Laboratories by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after buying an additional 725 shares during the last quarter. Hedge funds and other institutional investors own 50.38% of the company’s stock.

DLB has been the topic of several recent research reports. B. Riley reiterated a “neutral” rating and issued a $57.00 price objective on shares of Dolby Laboratories in a research note on Sunday, April 30th. BidaskClub upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Zacks Investment Research cut shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $54.38.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.

Insider Buying and Selling by Quarter for Dolby Laboratories (NYSE:DLB)

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