Salesforce, Inc. (NYSE:CRM) Shares Purchased by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 25.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,070 shares of the CRM provider’s stock after buying an additional 1,861 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Salesforce were worth $3,032,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the 3rd quarter valued at about $27,000. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the fourth quarter valued at about $30,000. Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Annapolis Financial Services LLC lifted its holdings in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Salesforce during the 3rd quarter worth approximately $53,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at $2,202,758.58. The trade was a 7.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,111,420 shares of company stock worth $384,366,700. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Down 1.5 %

Shares of Salesforce stock opened at $325.81 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a 50-day moving average price of $338.97 and a 200 day moving average price of $300.67. The company has a market cap of $311.80 billion, a P/E ratio of 53.59, a P/E/G ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. 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 business posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analysts Set New Price Targets

CRM has been the topic of a number of research reports. Citigroup upped their price target on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. BMO Capital Markets boosted their price target on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce presently has a consensus 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.