Angeles Investment Advisors LLC Has $713,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Angeles Investment Advisors LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,773 shares of the CRM provider’s stock after acquiring an additional 211 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Salesforce were worth $713,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ruedi Wealth Management Inc. grew its position in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its stake in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares in the last quarter. Red Tortoise LLC bought a new position in Salesforce in the first quarter valued at about $33,000. Finally, Stephens Consulting LLC raised its stake in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM stock opened at $254.57 on Monday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The stock has a market capitalization of $246.68 billion, a PE ratio of 45.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The company’s 50-day moving average is $253.56 and its 200-day moving average is $267.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. Equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the sale, the insider now directly owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The disclosure for this sale can be found here. Insiders sold 62,376 shares of company stock worth $15,878,005 over the last three months. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRM. Barclays decreased their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Evercore ISI reiterated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Citigroup raised their price objective on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Morgan Stanley boosted their price objective on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, DA Davidson increased their target price on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $305.55.

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.