U.S. Capital Wealth Advisors LLC Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

U.S. Capital Wealth Advisors LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 74.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,424 shares of the CRM provider’s stock after purchasing an additional 5,299 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Salesforce were worth $3,401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. boosted its stake in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank lifted its holdings in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC boosted its position in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares in the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce during the 1st quarter worth approximately $33,000. Finally, Stephens Consulting LLC increased its holdings in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 2,800 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, COO Brian Millham sold 6,161 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were 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 in the company, valued at $280,767.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 2,800 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,812 shares of company stock worth $23,418,916 in the last three months. 3.20% of the stock is owned by company insiders.

Salesforce Trading Down 1.4 %

Shares of CRM stock opened at $284.37 on Thursday. The company has a 50-day moving average of $268.70 and a two-hundred day moving average of $263.24. The firm has a market cap of $275.55 billion, a PE ratio of 51.15, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm earned $1.63 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Analyst Ratings Changes

CRM has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Stifel Nicolaus upped their price target on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company increased their price target on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Cfra set a $343.00 target price on Salesforce in a research note on Thursday, October 17th. Finally, Loop Capital reissued a “hold” rating and issued a $270.00 price target on shares of Salesforce in a research note on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.66.

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.