Dolby Laboratories (NYSE:DLB) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Dolby Laboratories (NYSE:DLB – Get Rating) in a research report released on Thursday morning. The firm issued a buy rating on the electronics maker’s stock.

Several other analysts have also weighed in on DLB. Barrington Research lowered Dolby Laboratories from an outperform rating to a market perform rating in a report on Friday, November 18th. TheStreet raised Dolby Laboratories from a c rating to a b rating in a report on Friday, February 3rd. Finally, Rosenblatt Securities upped their target price on Dolby Laboratories from $85.00 to $90.00 and gave the company a buy rating in a report on Friday, February 3rd. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $98.67.

Dolby Laboratories Stock Down 1.8 %

Shares of Dolby Laboratories stock opened at $80.75 on Thursday. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 43.65, a price-to-earnings-growth ratio of 2.13 and a beta of 1.01. The business has a fifty day simple moving average of $80.86 and a 200-day simple moving average of $73.61. Dolby Laboratories has a fifty-two week low of $61.55 and a fifty-two week high of $88.06.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Tuesday, February 14th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, February 13th. Dolby Laboratories’s dividend payout ratio is 58.38%.

Insider Buying and Selling

In related news, EVP Mark Andrew Sherman sold 2,413 shares of the stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $83.65, for a total value of $201,847.45. Following the completion of the sale, the executive vice president now directly owns 56,374 shares of the company’s stock, valued at approximately $4,715,685.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Ryan Nicholson sold 6,979 shares of the stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $84.56, for a total value of $590,144.24. Following the completion of the sale, the vice president now directly owns 19,013 shares of the company’s stock, valued at approximately $1,607,739.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Andrew Sherman sold 2,413 shares of the stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $83.65, for a total value of $201,847.45. Following the completion of the sale, the executive vice president now directly owns 56,374 shares of the company’s stock, valued at $4,715,685.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,604 shares of company stock valued at $12,801,705. Corporate insiders own 39.25% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

Several hedge funds have recently bought and sold shares of DLB. Morgan Stanley lifted its stake in Dolby Laboratories by 577.7% in the 4th quarter. Morgan Stanley now owns 4,365,832 shares of the electronics maker’s stock worth $307,966,000 after acquiring an additional 3,721,613 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Dolby Laboratories by 116.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,052,837 shares of the electronics maker’s stock worth $290,021,000 after purchasing an additional 2,183,842 shares during the last quarter. First Trust Advisors LP increased its position in Dolby Laboratories by 320.2% in the 1st quarter. First Trust Advisors LP now owns 1,081,747 shares of the electronics maker’s stock worth $84,614,000 after purchasing an additional 824,296 shares during the last quarter. Norges Bank acquired a new position in Dolby Laboratories in the 4th quarter worth about $38,977,000. Finally, Wells Fargo & Company MN increased its position in Dolby Laboratories by 58.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,077,995 shares of the electronics maker’s stock worth $77,142,000 after purchasing an additional 397,471 shares during the last quarter. 82.30% of the stock is owned by hedge funds and other institutional investors.

About Dolby Laboratories

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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. Its products include Cinema Imaging Products, Cinema Audio Products, and other products such as 3-D kits, broadcast hardware and software, monitors, and solutions for hearing impaired consumers.