MinichMacGregor Wealth Management LLC Invests $240,000 in Salesforce, Inc. (NYSE:CRM)

MinichMacGregor Wealth Management LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 717 shares of the CRM provider’s stock, valued at approximately $240,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the second quarter worth about $33,000. Godsey & Gibb Inc. raised its position in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Annapolis Financial Services LLC lifted its holdings in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of Salesforce during the 3rd quarter valued at about $53,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the sale, the chief accounting officer now directly owns 6,506 shares in the company, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,171,198 shares of company stock valued at $401,945,558 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 1.8 %

Shares of CRM stock opened at $332.67 on Thursday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $318.37 billion, a PE ratio of 54.72, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. 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 business’s 50 day moving average is $336.50 and its two-hundred day moving average is $293.20.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the firm earned $1.62 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. Equities analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Wall Street Analyst Weigh In

Several analysts recently commented on CRM shares. Truist Financial reissued a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Stifel Nicolaus raised their price objective on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and increased their price target for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Company 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.