AIA Group Ltd Acquires 6,421 Shares of Salesforce, Inc. (NYSE:CRM)

AIA Group Ltd grew its holdings in Salesforce, Inc. (NYSE:CRM) by 26.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,449 shares of the CRM provider’s stock after acquiring an additional 6,421 shares during the quarter. AIA Group Ltd’s holdings in Salesforce were worth $10,180,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC lifted its position in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new position in shares of Salesforce during the 3rd quarter worth about $1,215,000. Athena Investment Management acquired a new stake in shares of Salesforce during the 4th quarter valued at about $236,000. Highland Capital Management LLC acquired a new position in Salesforce in the fourth quarter worth about $4,321,000. Finally, Geode Capital Management LLC lifted its stake in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $270.04 on Monday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market cap of $259.51 billion, a PE ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35. The firm has a 50-day moving average of $309.39 and a 200-day moving average of $311.57. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 26.10%.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $12,967,047.50. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the sale, the chief executive officer now owns 5,518 shares of the company’s stock, valued at approximately $1,570,312.44. The trade was a 41.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,660 shares of company stock worth $14,095,336. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRM. Guggenheim reissued a “sell” rating and issued a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. Royal Bank of Canada upped their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Jefferies Financial Group lifted their price target on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus decreased their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Loop Capital cut their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $362.74.

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.