CMH Wealth Management LLC Lowers Stock Holdings in Salesforce, Inc. (NYSE:CRM)

CMH Wealth Management LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,437 shares of the CRM provider’s stock after selling 982 shares during the quarter. Salesforce accounts for 2.4% of CMH Wealth Management LLC’s investment portfolio, making the stock its 12th largest position. CMH Wealth Management LLC’s holdings in Salesforce were worth $10,523,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CRM. Pacer Advisors Inc. raised its position in Salesforce by 14.5% during the second quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider’s stock worth $24,734,000 after acquiring an additional 12,193 shares during the period. Kowal Investment Group LLC acquired a new position in shares of Salesforce during the 2nd quarter worth about $215,000. ProShare Advisors LLC lifted its stake in Salesforce by 8.7% in the 2nd quarter. ProShare Advisors LLC now owns 296,331 shares of the CRM provider’s stock valued at $76,187,000 after buying an additional 23,750 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Salesforce by 11.9% in the 2nd quarter. Gabelli Funds LLC now owns 2,405 shares of the CRM provider’s stock worth $618,000 after buying an additional 255 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Salesforce by 7.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,315 shares of the CRM provider’s stock worth $1,634,000 after buying an additional 411 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Up 1.5 %

Salesforce stock opened at $324.77 on Tuesday. The firm has a market capitalization of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. 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, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock’s fifty day simple moving average is $337.31 and its 200-day simple moving average is $292.02.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (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 analyst estimates of $9.35 billion. During the same period in the prior year, the business earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders 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 presently 26.32%.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,173,477 shares of company stock worth $402,596,964. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Scotiabank raised their target price on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. DA Davidson upped their target price on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial reissued a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. 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. Finally, KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

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.