Heritage Wealth Management Inc. Sells 50 Shares of Salesforce, Inc. (NYSE:CRM)

Heritage Wealth Management Inc. lowered its position in Salesforce, Inc. (NYSE:CRM) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,373 shares of the CRM provider’s stock after selling 50 shares during the period. Heritage Wealth Management Inc.’s holdings in Salesforce were worth $793,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Arlington Trust Co LLC raised its position in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc bought a new position in Salesforce in the 4th quarter worth approximately $31,000. Collier Financial bought a new position in Salesforce in the 4th quarter worth approximately $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter worth approximately $27,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $297.63 on Friday. The firm has a market cap of $284.83 billion, a PE ratio of 48.95, a PEG ratio of 2.58 and a beta of 1.31. 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 1-year low of $212.00 and a 1-year high of $369.00. The company has a fifty day moving average price of $329.11 and a 200 day moving average price of $307.58.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. Salesforce’s dividend payout ratio is 25.16%.

Analyst Ratings Changes

Several research analysts recently weighed in on CRM shares. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Macquarie dropped their price objective on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research report on Thursday. Oppenheimer dropped their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday. Stifel Nicolaus dropped their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Barclays upped their target price on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $365.32.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 942 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. This represents a 0.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Miguel Milano sold 458 shares of the stock in a transaction dated 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. This represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,102,572 shares of company stock worth $381,283,706 in the last three months. 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.