Wealth Alliance Has $2.61 Million Position in Salesforce, Inc. (NYSE:CRM)

Wealth Alliance increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,814 shares of the CRM provider’s stock after purchasing an additional 198 shares during the period. Wealth Alliance’s holdings in Salesforce were worth $2,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CRM. Calton & Associates Inc. acquired a new stake in Salesforce during the 3rd quarter worth approximately $204,000. Pictet North America Advisors SA acquired a new stake in Salesforce during the 3rd quarter worth approximately $2,668,000. Tempus Wealth Planning LLC raised its holdings in Salesforce by 18.9% in the 3rd quarter. Tempus Wealth Planning LLC now owns 1,303 shares of the CRM provider’s stock valued at $357,000 after acquiring an additional 207 shares in the last quarter. BLB&B Advisors LLC raised its holdings in Salesforce by 24.8% in the 3rd quarter. BLB&B Advisors LLC now owns 44,537 shares of the CRM provider’s stock valued at $12,190,000 after acquiring an additional 8,858 shares in the last quarter. Finally, Segment Wealth Management LLC raised its holdings in Salesforce by 6.7% in the 3rd quarter. Segment Wealth Management LLC now owns 9,538 shares of the CRM provider’s stock valued at $2,611,000 after acquiring an additional 596 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, insider Miguel Milano sold 719 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the sale, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. This represents a 13.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,117,641 shares of company stock worth $386,408,308 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.5 %

NYSE CRM opened at $324.19 on Thursday. The business’s 50-day moving average price is $335.02 and its two-hundred day moving average price is $304.66. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a market capitalization of $310.25 billion, a PE ratio of 53.32, a price-to-earnings-growth ratio of 2.62 and a beta of 1.31. 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 (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 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 company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the firm posted $1.62 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts expect that Salesforce, Inc. will post 7.46 EPS for the current 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 given 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 payout ratio is 26.32%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CRM shares. JPMorgan Chase & Co. lifted their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Citigroup lifted their price objective on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. UBS Group lifted their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a report on Friday, December 13th. Finally, Royal Bank of Canada lifted their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $376.84.

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.