PFC Capital Group Inc. Acquires 50 Shares of Salesforce, Inc. (NYSE:CRM)

PFC Capital Group Inc. raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,870 shares of the CRM provider’s stock after purchasing an additional 50 shares during the period. Salesforce accounts for 1.3% of PFC Capital Group Inc.’s portfolio, making the stock its 18th largest position. PFC Capital Group Inc.’s holdings in Salesforce were worth $2,631,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Arlington Trust Co LLC increased its position in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce during the fourth quarter valued at $30,000. Asset Planning Inc purchased a new position in shares of Salesforce in the 4th quarter worth about $31,000. Collier Financial bought a new position in Salesforce in the 4th quarter worth about $32,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Salesforce during the 4th quarter valued at about $35,000. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of Salesforce stock opened at $268.05 on Tuesday. The company has a market capitalization of $257.60 billion, a price-to-earnings ratio of 44.09, a PEG ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $308.26 and its 200-day simple moving average is $311.67. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.63%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the transaction, the insider now owns 29,190 shares in the company, valued at $8,416,644.60. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock valued at $14,095,336 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CRM has been the topic of several analyst reports. Bank of America dropped their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. DA Davidson cut their target price on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Oppenheimer decreased their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company dropped their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group boosted their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

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.