Dolby Laboratories, Inc. (DLB) Major Shareholder Dagmar Dolby Sells 50,000 Shares

Dolby Laboratories, Inc. (NYSE:DLB) major shareholder Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $65.06, for a total transaction of $3,253,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Tuesday, March 12th, Dagmar Dolby sold 21,465 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.00, for a total transaction of $1,395,225.00.
  • On Monday, March 4th, Dagmar Dolby sold 2,406 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.05, for a total transaction of $156,510.30.
  • On Friday, March 1st, Dagmar Dolby sold 95,963 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.05, for a total value of $6,242,393.15.
  • On Wednesday, February 27th, Dagmar Dolby sold 98,543 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.24, for a total value of $6,428,945.32.
  • On Monday, February 25th, Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.67, for a total value of $3,283,500.00.
  • On Thursday, February 21st, Dagmar Dolby sold 69,885 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.32, for a total value of $4,564,888.20.
  • On Tuesday, February 19th, Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.41, for a total value of $3,270,500.00.
  • On Friday, February 15th, Dagmar Dolby sold 401 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.00, for a total value of $26,065.00.
  • On Tuesday, February 5th, Dagmar Dolby sold 52,254 shares of Dolby Laboratories stock. The shares were sold at an average price of $65.39, for a total value of $3,416,889.06.

Shares of NYSE DLB traded down $0.13 during mid-day trading on Monday, reaching $63.24. 177,290 shares of the company’s stock were exchanged, compared to its average volume of 479,352. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 2.18 and a beta of 0.87. Dolby Laboratories, Inc. has a 52 week low of $58.17 and a 52 week high of $72.04.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Wednesday, January 30th. The electronics maker reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.40. The company had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $295.04 million. Dolby Laboratories had a return on equity of 11.30% and a net margin of 25.47%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.80) EPS. Equities research analysts forecast that Dolby Laboratories, Inc. will post 2.24 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in shares of Dolby Laboratories by 72.9% during the 3rd quarter. Deutsche Bank AG now owns 302,615 shares of the electronics maker’s stock worth $21,171,000 after purchasing an additional 127,613 shares during the period. BlackRock Inc. raised its stake in shares of Dolby Laboratories by 12.4% during the 3rd quarter. BlackRock Inc. now owns 2,924,015 shares of the electronics maker’s stock worth $204,594,000 after purchasing an additional 323,489 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Dolby Laboratories by 580.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 29,401 shares of the electronics maker’s stock worth $1,818,000 after purchasing an additional 25,079 shares during the period. Legal & General Group Plc raised its stake in shares of Dolby Laboratories by 8.4% during the 3rd quarter. Legal & General Group Plc now owns 36,145 shares of the electronics maker’s stock worth $2,529,000 after purchasing an additional 2,805 shares during the period. Finally, Hsbc Holdings PLC raised its stake in Dolby Laboratories by 27.7% in the 3rd quarter. Hsbc Holdings PLC now owns 4,968 shares of the electronics maker’s stock valued at $348,000 after acquiring an additional 1,079 shares during the period. Institutional investors own 56.35% of the company’s stock.

Several brokerages have weighed in on DLB. Barrington Research restated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 31st. Zacks Investment Research upgraded Dolby Laboratories from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Thursday, January 24th. Finally, B. Riley set a $67.00 price objective on Dolby Laboratories and gave the company a “hold” rating in a research note on Tuesday, December 4th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $75.75.

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Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

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