Aaron Wealth Advisors LLC Has $1.83 Million Holdings in Salesforce Inc. (NYSE:CRM)

Aaron Wealth Advisors LLC increased its position in shares of Salesforce Inc. (NYSE:CRM) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,810 shares of the CRM provider’s stock after purchasing an additional 442 shares during the period. Aaron Wealth Advisors LLC’s holdings in Salesforce were worth $1,828,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Salesforce by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after acquiring an additional 175,035 shares in the last quarter. Northern Trust Corp lifted its stake in Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares during the period. Norges Bank bought a new position in Salesforce during the fourth quarter worth about $3,599,867,000. Price T Rowe Associates Inc. MD boosted its holdings in Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock valued at $2,988,422,000 after purchasing an additional 1,683,233 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Salesforce by 7.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,658,132 shares of the CRM provider’s stock valued at $2,894,673,000 after purchasing an additional 602,445 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Down 0.3%

NYSE:CRM opened at $271.86 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $271.69 and a two-hundred day moving average price of $293.08. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The stock has a market cap of $259.90 billion, a price-to-earnings ratio of 42.54, a PEG ratio of 2.47 and a beta of 1.37.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion during the quarter, compared to analysts’ expectations of $9.74 billion. During the same quarter in the prior year, the company earned $2.44 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is 25.98%.

Analysts Set New Price Targets

A number of analysts have weighed in on CRM shares. Macquarie reiterated a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $325.00 target price on shares of Salesforce in a report on Thursday, June 26th. Mizuho dropped their target price on shares of Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, May 15th. Stephens reduced their price target on shares of Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a research report on Friday, May 30th. Finally, Westpark Capital reaffirmed a “buy” rating and set a $320.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $349.08.

Insider Activity at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the sale, the insider owned 41,422 shares of the company’s stock, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,525 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total value of $386,831.50. Following the transaction, the chief accounting officer directly owned 12,211 shares of the company’s stock, valued at approximately $3,097,442.26. This trade represents a 11.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,534 shares of company stock valued at $7,609,842 over the last ninety days. Company insiders own 3.20% of the company’s stock.

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.