StockNews.com Lowers Dolby Laboratories (NYSE:DLB) to Hold

StockNews.com lowered shares of Dolby Laboratories (NYSE:DLBGet Rating) from a buy rating to a hold rating in a research note issued to investors on Monday.

DLB has been the topic of several other reports. Barrington Research downgraded shares of Dolby Laboratories from an outperform rating to a market perform rating in a research note on Friday, November 18th. Tigress Financial decreased their target price on shares of Dolby Laboratories from $128.00 to $116.00 and set a buy rating on the stock in a research note on Friday, October 14th. Finally, Rosenblatt Securities cut their price target on shares of Dolby Laboratories from $90.00 to $85.00 and set a buy rating on the stock in a report on Monday, November 7th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Dolby Laboratories has a consensus rating of Moderate Buy and a consensus target price of $97.00.

Dolby Laboratories Stock Up 2.5 %

Shares of NYSE DLB opened at $71.30 on Monday. Dolby Laboratories has a 52 week low of $61.55 and a 52 week high of $96.85. The firm’s fifty day moving average is $67.50 and its 200 day moving average is $72.40. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 39.61, a PEG ratio of 1.65 and a beta of 0.97.

Dolby Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Wednesday, November 30th will be issued a $0.27 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $1.08 annualized dividend and a yield of 1.51%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.25. Dolby Laboratories’s payout ratio is 55.56%.

Insider Activity at Dolby Laboratories

In related news, SVP John D. Couling sold 50,000 shares of Dolby Laboratories stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $66.02, for a total value of $3,301,000.00. Following the sale, the senior vice president now owns 79,235 shares in the company, valued at $5,231,094.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 37.06% of the stock is currently owned by company insiders.

Institutional Trading of Dolby Laboratories

A number of hedge funds have recently modified their holdings of the business. Summit Global Investments increased its position in shares of Dolby Laboratories by 0.4% during the 3rd quarter. Summit Global Investments now owns 40,397 shares of the electronics maker’s stock valued at $2,632,000 after purchasing an additional 146 shares during the last quarter. Heritage Wealth Management LLC increased its holdings in Dolby Laboratories by 4.1% in the 3rd quarter. Heritage Wealth Management LLC now owns 3,745 shares of the electronics maker’s stock worth $244,000 after acquiring an additional 147 shares in the last quarter. IFP Advisors Inc increased its holdings in Dolby Laboratories by 6.8% in the 3rd quarter. IFP Advisors Inc now owns 2,453 shares of the electronics maker’s stock worth $156,000 after acquiring an additional 157 shares in the last quarter. Cardinal Capital Management increased its holdings in Dolby Laboratories by 0.6% in the 2nd quarter. Cardinal Capital Management now owns 27,872 shares of the electronics maker’s stock worth $1,995,000 after acquiring an additional 161 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in Dolby Laboratories by 3.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,954 shares of the electronics maker’s stock worth $409,000 after acquiring an additional 164 shares in the last quarter. Institutional investors own 59.13% of the company’s stock.

About Dolby Laboratories

(Get Rating)

Dolby Laboratories, Inc engages in the provision of audio and imaging technologies. It transforms entertainment and communications for content playback in movies, television, music, and gaming. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.

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