Wealth Alliance Advisory Group LLC Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

Wealth Alliance Advisory Group LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 30.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,524 shares of the CRM provider’s stock after purchasing an additional 1,059 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Salesforce were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the third quarter valued at $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce in the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. boosted its position in shares of Salesforce by 300.0% during 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 last quarter. Annapolis Financial Services LLC grew its holdings in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of Salesforce in the third quarter worth approximately $53,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wedbush reissued an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Cfra set a $343.00 price objective on Salesforce in a report on Thursday, October 17th. Finally, Needham & Company LLC upped their target price on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have issued 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.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Stock Performance

NYSE:CRM opened at $324.77 on Friday. The stock has a 50-day moving average price of $337.31 and a 200 day moving average price of $291.56. 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 12-month low of $212.00 and a 12-month high of $369.00. The stock has a market capitalization of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30.

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 the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.62 EPS. Equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. 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 0.49%. Salesforce’s payout ratio is 26.32%.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This trade represents a 1.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total value of $1,785,149.75. Following the completion of the transaction, the chief operating officer now owns 969 shares of the company’s stock, valued at approximately $280,767.75. This represents a 86.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,183,838 shares of company stock valued at $405,595,158. 3.20% of the stock is currently owned by insiders.

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.