Pines Wealth Management LLC Invests $687,000 in Salesforce, Inc. (NYSE:CRM)

Pines Wealth Management LLC bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,162 shares of the CRM provider's stock, valued at approximately $687,000.

Other institutional investors have also modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the second quarter worth about $33,000. Godsey & Gibb Inc. grew its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Annapolis Financial Services LLC raised its position in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider's stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Salesforce in the 3rd quarter worth approximately $53,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

NYSE CRM opened at $324.76 on Wednesday. The company has a 50-day moving average price of $336.76 and a two-hundred day moving average price of $290.66. The stock has a market cap of $310.80 billion, a price-to-earnings ratio of 53.41, a price-to-earnings-growth ratio of 3.20 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 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the company posted $1.62 earnings per share. Salesforce's revenue was up 8.3% compared to the same quarter last year. 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. Stockholders 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 annualized dividend and a dividend yield of 0.49%. Salesforce's dividend payout ratio (DPR) is 26.32%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRM. Stifel Nicolaus upped their target price on Salesforce from $390.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Bank of America lifted their price objective on shares of Salesforce from $390.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Loop Capital raised their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Barclays lifted their target price on shares of Salesforce from $415.00 to $425.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group lifted their price objective on Salesforce from $315.00 to $415.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $376.05.

Insider Activity

In other Salesforce news, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now owns 19,116 shares in the company, valued at $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares in the company, valued at approximately $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 90 days, insiders have sold 1,177,617 shares of company stock worth $403,542,975. 3.20% of the stock is owned by corporate insiders.

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.