AlphaCore Capital LLC Has $1.75 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

AlphaCore Capital LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 15.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,397 shares of the CRM provider’s stock after purchasing an additional 864 shares during the quarter. AlphaCore Capital LLC’s holdings in Salesforce were worth $1,753,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in shares of Salesforce by 25.8% during the 1st quarter. Advisors Asset Management Inc. now owns 16,227 shares of the CRM provider’s stock valued at $4,887,000 after acquiring an additional 3,327 shares during the period. Gabelli Funds LLC grew its holdings in shares of Salesforce by 34.0% during the first quarter. Gabelli Funds LLC now owns 2,150 shares of the CRM provider’s stock valued at $648,000 after buying an additional 545 shares during the last quarter. Bank of Nova Scotia Trust Co. lifted its stake in Salesforce by 20.6% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 24,828 shares of the CRM provider’s stock valued at $7,478,000 after acquiring an additional 4,249 shares in the last quarter. Steel Grove Capital Advisors LLC bought a new stake in shares of Salesforce during the 1st quarter worth $387,000. Finally, Kestra Advisory Services LLC increased its position in Salesforce by 0.6% in the first quarter. Kestra Advisory Services LLC now owns 96,649 shares of the CRM provider’s stock worth $29,109,000 after buying an additional 571 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 3.2 %

Shares of Salesforce stock opened at $336.19 on Friday. The stock has a market capitalization of $321.40 billion, a P/E ratio of 58.47, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $292.86 and a 200 day simple moving average of $268.20.

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

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio is presently 27.83%.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,183 shares of company stock valued at $38,314,066. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. TD Cowen boosted their price objective on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday. Bank of America boosted their price target on shares of Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird lifted their target price on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $332.11.

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.