Salesforce, Inc. (NYSE:CRM) Stock Holdings Lessened by Wealth Alliance

Wealth Alliance reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 20.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 9,032 shares of the CRM provider’s stock after selling 2,325 shares during the quarter. Wealth Alliance’s holdings in Salesforce were worth $2,322,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CRM. Gilbert & Cook Inc. increased its holdings in shares of Salesforce by 6.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock worth $1,489,000 after acquiring an additional 366 shares during the period. Aveo Capital Partners LLC increased its holdings in shares of Salesforce by 44.7% in the 4th quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after acquiring an additional 496 shares during the period. 9258 Wealth Management LLC increased its holdings in shares of Salesforce by 24.0% in the 4th quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after acquiring an additional 1,253 shares during the period. Gryphon Financial Partners LLC increased its holdings in shares of Salesforce by 32.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock worth $1,064,000 after acquiring an additional 970 shares during the period. Finally, TrinityPoint Wealth LLC increased its holdings in shares of Salesforce by 1.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock worth $2,115,000 after acquiring an additional 133 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein raised their target price on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Citigroup raised their target price on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, Loop Capital raised their target price on shares of Salesforce from $240.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.55.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 5,600 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the completion of the transaction, the insider now owns 116,693 shares of the company’s stock, valued at approximately $29,193,087.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 5,600 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the transaction, the insider now owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The disclosure for this sale can be found here. In the last three months, insiders sold 62,376 shares of company stock valued at $15,878,005. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.6 %

Shares of Salesforce stock opened at $255.32 on Wednesday. The stock has a 50-day simple moving average of $253.61 and a 200-day simple moving average of $267.11. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The firm has a market cap of $247.41 billion, a price-to-earnings ratio of 45.92, a P/E/G ratio of 2.26 and a beta of 1.29. 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 released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm earned $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given 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 of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio is 28.78%.

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.