Heritage Trust Co Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Heritage Trust Co purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,607 shares of the CRM provider's stock, valued at approximately $2,209,000.

Several other institutional investors have also recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce in the 4th quarter worth approximately $25,000. 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 valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the fourth quarter worth $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the fourth quarter worth $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce in the fourth quarter valued at $32,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRM has been the topic of several research reports. Stifel Nicolaus reduced their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Stephens began coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price target on the stock. DA Davidson lowered their price target on shares of Salesforce from $275.00 to $250.00 and set a "neutral" rating for the company in a report on Monday. Redburn Atlantic started coverage on Salesforce in a report on Wednesday, February 19th. They set a "buy" rating on the stock. Finally, Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $360.76.

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Insider Activity

In other Salesforce news, Director Oscar Munoz bought 3,882 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of $257.28 per share, with a total value of $998,760.96. Following the acquisition, the director now owns 11,843 shares of the company's stock, valued at $3,046,967.04. The trade was a 48.76 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $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 quarter. Company insiders own 3.20% of the company's stock.

Salesforce Stock Up 0.3 %

Shares of Salesforce stock traded up $0.86 on Tuesday, reaching $255.41. 2,105,246 shares of the company were exchanged, compared to its average volume of 6,802,462. The company has a market capitalization of $245.45 billion, a price-to-earnings ratio of 42.01, a PEG ratio of 2.58 and a beta of 1.38. 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 one year low of $212.00 and a one year high of $369.00. The company has a 50-day moving average of $287.42 and a 200 day moving average of $310.55.

Salesforce Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, April 10th. 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. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

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.