883 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Whelan Financial

Whelan Financial purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 883 shares of the CRM provider’s stock, valued at approximately $295,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nvest Financial LLC raised its holdings in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD increased its position in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after acquiring an additional 31 shares during the period. Sachetta LLC lifted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC boosted its position in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Down 1.4%

NYSE:CRM opened at $287.03 on Tuesday. The firm has a market capitalization of $275.95 billion, a P/E ratio of 47.21, a P/E/G ratio of 2.58 and a beta of 1.42. The business has a 50 day simple moving average of $268.15 and a 200 day simple moving average of $307.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.59%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. Jefferies Financial Group cut their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Macquarie reiterated a “neutral” rating and set a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Bank of America decreased their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Cantor Fitzgerald began coverage on shares of Salesforce in a research report on Wednesday, April 23rd. They issued an “overweight” rating and a $210.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $352.62.

Insider Activity

In other Salesforce news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at $1,805,936.08. The trade was a 7.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is currently owned by company insiders.

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.