Albion Financial Group UT Sells 1,866 Shares of Salesforce, Inc. (NYSE:CRM)

Albion Financial Group UT lessened its position in Salesforce, Inc. (NYSE:CRM) by 23.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,953 shares of the CRM provider’s stock after selling 1,866 shares during the period. Albion Financial Group UT’s holdings in Salesforce were worth $1,990,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the third quarter worth about $27,000. Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the 2nd quarter valued at $33,000. Annapolis Financial Services LLC lifted its holdings in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, Friedenthal Financial bought a new position in Salesforce during the fourth quarter worth $55,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CRM shares. Truist Financial restated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Citigroup boosted their price target on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Royal Bank of Canada increased their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their price target for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Bank of America raised their price target on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One equities research 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 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 price target of $377.63.

Salesforce Stock Up 0.7 %

Shares of Salesforce stock opened at $326.85 on Wednesday. The firm has a market cap of $312.79 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 2.93 and a beta of 1.30. The stock’s 50-day moving average is $336.68 and its 200 day moving average is $292.92. 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, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 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 analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $1.62 EPS. Equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Activity at Salesforce

In other news, COO Brian Millham sold 969 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $286.56, for a total transaction of $277,676.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,172,167 shares of company stock valued at $402,223,235 in the last three months. Corporate insiders own 3.20% of the company’s stock.

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.