Beacon Financial Advisory LLC Has $703,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Beacon Financial Advisory LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,101 shares of the CRM provider’s stock after selling 71 shares during the quarter. Beacon Financial Advisory LLC’s holdings in Salesforce were worth $703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Czech National Bank boosted its holdings in Salesforce by 6.7% in the third quarter. Czech National Bank now owns 197,395 shares of the CRM provider’s stock valued at $54,029,000 after acquiring an additional 12,314 shares during the last quarter. RBA Wealth Management LLC increased its holdings in Salesforce by 3.7% in the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after purchasing an additional 574 shares during the last quarter. Axiom Advisory LLC lifted its stake in Salesforce by 1.6% in the third quarter. Axiom Advisory LLC now owns 6,272 shares of the CRM provider’s stock valued at $1,608,000 after buying an additional 96 shares during the period. Dynamic Advisor Solutions LLC boosted its holdings in Salesforce by 1.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 21,861 shares of the CRM provider’s stock worth $5,984,000 after buying an additional 313 shares during the last quarter. Finally, Trust Co of Kansas grew its position in shares of Salesforce by 0.9% during the 3rd quarter. Trust Co of Kansas now owns 21,790 shares of the CRM provider’s stock worth $5,964,000 after buying an additional 191 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM stock opened at $347.41 on Thursday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market capitalization of $332.47 billion, a PE ratio of 57.14, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. The company’s 50-day moving average is $338.69 and its 200-day moving average is $299.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last issued 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 previous year, the company earned $1.62 earnings per share. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.46%. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CRM shares. Canaccord Genuity Group increased their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Oppenheimer reiterated an “outperform” rating and issued a $415.00 target price (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Barclays raised their price objective on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and boosted their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.