4WEALTH Advisors Inc. Takes $453,000 Position in Salesforce, Inc. (NYSE:CRM)

4WEALTH Advisors Inc. purchased a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,356 shares of the CRM provider’s stock, valued at approximately $453,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Salesforce in the 4th quarter worth approximately $3,599,867,000. Raymond James Financial Inc. purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $1,173,564,000. Invesco Ltd. increased its position in Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after buying an additional 2,325,156 shares in the last quarter. Northern Trust Corp boosted its holdings in Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Salesforce by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock worth $2,988,422,000 after buying an additional 1,683,233 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of a number of research analyst reports. Robert W. Baird lowered their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley reduced their price objective on Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Wells Fargo & Company decreased their target price on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $350.56.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 1,525 shares of Salesforce stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total transaction of $386,831.50. Following the transaction, the chief accounting officer now directly owns 12,211 shares in the company, valued at $3,097,442.26. This trade represents a 11.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,051 shares of company stock worth $15,027,714 in the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.2 %

Salesforce stock opened at $269.17 on Friday. The stock has a market capitalization of $258.78 billion, a PE ratio of 44.27, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The business has a 50 day simple moving average of $269.95 and a 200-day simple moving average of $307.67. 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 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 26.10%.

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.