485 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Fourth Dimension Wealth LLC

Fourth Dimension Wealth LLC bought a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, Holdings Channel reports. The fund bought 485 shares of the CRM provider’s stock, valued at approximately $162,000.

A number of other hedge funds have also modified their holdings of CRM. Tallon Kerry Patrick purchased a new position in shares of Salesforce during the fourth quarter valued at $236,000. MCF Advisors LLC grew its holdings in shares of Salesforce by 63.8% during the fourth quarter. MCF Advisors LLC now owns 231 shares of the CRM provider’s stock valued at $77,000 after buying an additional 90 shares in the last quarter. Beaumont Financial Advisors LLC grew its holdings in shares of Salesforce by 18.0% during the fourth quarter. Beaumont Financial Advisors LLC now owns 2,384 shares of the CRM provider’s stock valued at $797,000 after buying an additional 364 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in shares of Salesforce by 3.9% during the fourth quarter. Sheets Smith Wealth Management now owns 1,334 shares of the CRM provider’s stock valued at $446,000 after buying an additional 50 shares in the last quarter. Finally, Advisory Alpha LLC grew its holdings in shares of Salesforce by 9.1% during the fourth quarter. Advisory Alpha LLC now owns 2,457 shares of the CRM provider’s stock valued at $822,000 after buying an additional 205 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was 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 owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. The trade was a 7.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the transaction, the chief accounting officer now directly owns 11,711 shares of the company’s stock, valued at $3,220,525. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,306 shares of company stock valued at $12,841,368. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $283.08 on Friday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $272.15 billion, a PE ratio of 46.56, a P/E/G ratio of 2.58 and a beta of 1.42. The stock has a 50-day simple moving average of $268.58 and a 200 day simple moving average of $306.75.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 26.10%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CRM shares. Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Friday, April 25th. Piper Sandler lowered their price target on Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Redburn Atlantic started coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Finally, Robert W. Baird reduced their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. 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, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $352.36.

About Salesforce

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.