Angeles Wealth Management LLC Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Angeles Wealth Management LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,838 shares of the CRM provider’s stock after buying an additional 109 shares during the quarter. Angeles Wealth Management LLC’s holdings in Salesforce were worth $1,283,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CRM. RBA Wealth Management LLC increased its position in shares of Salesforce by 3.7% in the 3rd 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. Silverlake Wealth Management LLC grew its stake in shares of Salesforce by 7.8% during the third quarter. Silverlake Wealth Management LLC now owns 894 shares of the CRM provider’s stock worth $245,000 after purchasing an additional 65 shares in the last quarter. Ritholtz Wealth Management increased its holdings in Salesforce by 1.2% in the third quarter. Ritholtz Wealth Management now owns 12,977 shares of the CRM provider’s stock valued at $3,552,000 after buying an additional 160 shares during the last quarter. HCR Wealth Advisors raised its stake in Salesforce by 9.7% in the third quarter. HCR Wealth Advisors now owns 1,358 shares of the CRM provider’s stock valued at $372,000 after buying an additional 120 shares in the last quarter. Finally, CRA Financial Services LLC lifted its holdings in Salesforce by 3.4% during the 3rd quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock worth $318,000 after buying an additional 38 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Down 1.5 %

Shares of NYSE CRM opened at $325.81 on Monday. The stock has a market capitalization of $311.80 billion, a price-to-earnings ratio of 53.59, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a 50-day moving average price of $338.97 and a 200 day moving average price of $300.67. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings results 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 firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. Equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Wedbush reissued an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a report on Monday, January 6th. Cfra set a $343.00 price target on shares of Salesforce in a research note on Thursday, October 17th. Finally, Stifel Nicolaus upped their price objective on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock valued at $384,366,700 in the last 90 days. 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.