Operose Advisors LLC Trims Position in Salesforce, Inc. (NYSE:CRM)

Operose Advisors LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 63.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 96 shares of the CRM provider’s stock after selling 166 shares during the period. Operose Advisors LLC’s holdings in Salesforce were worth $32,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in Salesforce during the fourth quarter worth approximately $25,000. Arlington Trust Co LLC increased its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the fourth quarter valued at $30,000. Asset Planning Inc purchased a new stake in Salesforce during the fourth quarter valued at about $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the fourth quarter worth about $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Up 0.1 %

Shares of Salesforce stock opened at $254.77 on Wednesday. The stock has a market capitalization of $244.83 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $285.91 and its 200-day simple moving average is $310.16.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.66%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Insider Activity

In other news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $298,055.16. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,534,090. The trade was a 1.88 % 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, insider Parker Harris sold 652 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the transaction, the insider now directly owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,439 shares of company stock valued at $12,043,153. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on CRM. Guggenheim reaffirmed a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Loop Capital reduced their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. JMP Securities restated a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $360.76.

About Salesforce

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.