Strategic Wealth Investment Group LLC Trims Position in Salesforce, Inc. (NYSE:CRM)

Strategic Wealth Investment Group LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,620 shares of the CRM provider’s stock after selling 2,242 shares during the period. Salesforce makes up about 1.1% of Strategic Wealth Investment Group LLC’s portfolio, making the stock its 26th biggest position. Strategic Wealth Investment Group LLC’s holdings in Salesforce were worth $16,255,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CRM. Crews Bank & Trust purchased a new stake in shares of Salesforce in the fourth quarter worth about $91,000. OLD National Bancorp IN lifted its holdings in Salesforce by 0.5% in the fourth quarter. OLD National Bancorp IN now owns 80,591 shares of the CRM provider’s stock valued at $26,944,000 after acquiring an additional 401 shares during the period. First Affirmative Financial Network boosted its position in Salesforce by 4.8% in the 4th quarter. First Affirmative Financial Network now owns 2,933 shares of the CRM provider’s stock worth $980,000 after purchasing an additional 134 shares in the last quarter. Abel Hall LLC grew its stake in shares of Salesforce by 7.4% during the 4th quarter. Abel Hall LLC now owns 1,114 shares of the CRM provider’s stock worth $373,000 after purchasing an additional 77 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $361,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brian Millham sold 14,808 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,669 shares of company stock valued at $383,286,905. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

Shares of CRM opened at $343.51 on Friday. The firm has a 50-day simple moving average of $338.53 and a two-hundred day simple moving average of $296.43. 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 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market cap of $328.74 billion, a PE ratio of 56.50, a P/E/G ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its 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 firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the previous year, the firm earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley increased their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Finally, Stifel Nicolaus boosted their price objective on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target 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.