HB Wealth Management LLC Has $8.93 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

HB Wealth Management LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,718 shares of the CRM provider’s stock after buying an additional 2,674 shares during the quarter. HB Wealth Management LLC’s holdings in Salesforce were worth $8,934,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the 2nd quarter valued at approximately $33,000. Godsey & Gibb Inc. boosted its position in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Annapolis Financial Services LLC grew its holdings in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Salesforce in the 3rd quarter valued at approximately $53,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 6,161 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the completion of the transaction, the chief operating officer now directly owns 969 shares of the company’s stock, valued at approximately $280,767.75. This trade represents a 86.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,838 shares of company stock worth $405,595,158 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Up 1.5 %

NYSE CRM opened at $324.77 on Friday. The business’s fifty day moving average is $337.31 and its 200-day moving average is $291.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $310.81 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. UBS Group lifted their price objective on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Scotiabank increased their target price on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Finally, Cfra set a $343.00 price objective on shares of Salesforce in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.