Salesforce, Inc. (NYSE:CRM) Increases Dividend to $0.42 Per Share

Salesforce, Inc. (NYSE:CRM) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Investors of record on Thursday, April 10th will be paid a dividend of 0.42 per share by the CRM provider on Thursday, April 24th. This represents a $1.68 dividend on an annualized basis and a yield of 0.60%. This is a 5.0% increase from Salesforce’s previous quarterly dividend of $0.40.

Salesforce has a payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Salesforce to earn $8.41 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 19.0%.

Salesforce Stock Performance

Shares of CRM stock opened at $277.88 on Friday. The stock’s 50-day moving average is $310.49 and its two-hundred day moving average is $310.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a market cap of $267.04 billion, a price-to-earnings ratio of 45.70, a PEG ratio of 2.58 and a beta of 1.35.

Analysts Set New Price Targets

Several research firms have commented on CRM. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Wells Fargo & Company cut their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus decreased their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Salesforce

A hedge fund recently raised its stake in Salesforce stock. Revolve Wealth Partners LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 12.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,827 shares of the CRM provider’s stock after buying an additional 205 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Salesforce were worth $611,000 at the end of the most recent quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Company 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.