Key Points
- CAO Ryan Nicholson sold 2,667 shares at an average price of $66.38 for a total of $177,035.46, trimming his stake by 6.73% to 36,956 shares per an SEC filing.
- Dolby beat the quarter with EPS $1.06 vs. $0.99 expected and revenue of $346.7M (vs. $341.3M), but revenue was down 2.8% year‑over‑year and the stock fell about 3.4%.
- The company declared a quarterly dividend of $0.36 per share (annualized $1.44), with an ex‑dividend date of Feb 10 and a yield of roughly 2.3% (payout ratio ~58%).
Dolby Laboratories (NYSE:DLB - Get Free Report) CAO Ryan Nicholson sold 2,667 shares of Dolby Laboratories stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $66.38, for a total transaction of $177,035.46. Following the completion of the sale, the chief accounting officer directly owned 36,956 shares in the company, valued at approximately $2,453,139.28. This represents a 6.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Dolby Laboratories Stock Down 3.4%
Dolby Laboratories stock opened at $63.76 on Wednesday. The firm has a 50 day moving average price of $64.71 and a 200-day moving average price of $67.95. Dolby Laboratories has a twelve month low of $60.14 and a twelve month high of $85.21. The company has a market capitalization of $6.09 billion, a P/E ratio of 25.71 and a beta of 0.86.
Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The company had revenue of $346.71 million for the quarter, compared to analysts' expectations of $341.26 million. During the same quarter in the previous year, the firm posted $1.14 EPS. Dolby Laboratories's revenue was down 2.8% on a year-over-year basis. Equities analysts expect that Dolby Laboratories will post 2.94 EPS for the current fiscal year.
Dolby Laboratories Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, February 10th. Dolby Laboratories's dividend payout ratio is currently 58.06%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on DLB shares. Wall Street Zen cut Dolby Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Dolby Laboratories in a research note on Monday, December 29th. Barrington Research dropped their price target on shares of Dolby Laboratories from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Monday, January 26th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Dolby Laboratories in a report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.75.
Check Out Our Latest Stock Analysis on Dolby Laboratories
Institutional Trading of Dolby Laboratories
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Corp purchased a new stake in Dolby Laboratories in the 3rd quarter worth approximately $25,000. Hantz Financial Services Inc. grew its position in shares of Dolby Laboratories by 166.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker's stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Dolby Laboratories by 590.4% in the second quarter. Allworth Financial LP now owns 504 shares of the electronics maker's stock worth $37,000 after purchasing an additional 431 shares during the period. Mather Group LLC. purchased a new stake in shares of Dolby Laboratories in the third quarter worth $38,000. Finally, Rothschild Investment LLC boosted its stake in Dolby Laboratories by 4,046.7% during the third quarter. Rothschild Investment LLC now owns 622 shares of the electronics maker's stock valued at $45,000 after buying an additional 607 shares during the period. Institutional investors own 58.56% of the company's stock.
Dolby Laboratories Company Profile
(
Get Free Report)
Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company's core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby's licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.
Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.
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