May Hill Capital LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,164 shares of the CRM provider's stock, valued at approximately $389,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Arlington Trust Co LLC boosted its stake in shares of 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 buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce in the fourth quarter valued at $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the fourth quarter valued at about $31,000. Collier Financial bought a new stake in Salesforce during the 4th quarter worth approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in Salesforce during the fourth quarter worth about $35,000. 80.43% of the stock is owned by hedge funds and other institutional investors.
Salesforce Price Performance
Shares of CRM stock traded up $1.82 on Tuesday, hitting $270.18. 4,596,911 shares of the stock traded hands, compared to its average volume of 6,653,506. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $259.64 billion, a price-to-earnings ratio of 44.44, a PEG ratio of 2.58 and a beta of 1.35. The firm has a 50 day simple moving average of $307.13 and a two-hundred day simple moving average of $311.78.
Salesforce Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce's dividend payout ratio is 26.10%.
Insider Buying and Selling at Salesforce
In related news, insider R David Schmaier sold 1,785 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now directly owns 29,190 shares in the company, valued at $8,416,644.60. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the firm's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company's stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock valued at $14,095,336 in the last three months. 3.20% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on CRM shares. Morgan Stanley lifted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Oppenheimer dropped their target price on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Stephens started coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 target price on the stock. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a "buy" rating on the stock. Finally, Royal Bank of Canada boosted their price target on Salesforce from $300.00 to $420.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average price target of $361.42.
Read Our Latest Report on CRM
About Salesforce
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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.
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