AIA Group Ltd Acquires 6,421 Shares of Salesforce, Inc. (NYSE:CRM)

AIA Group Ltd increased its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 26.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 30,449 shares of the CRM provider's stock after acquiring an additional 6,421 shares during the period. AIA Group Ltd's holdings in Salesforce were worth $10,180,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC raised its position in shares of Salesforce by 85.1% in the fourth 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 period. Compass Financial Services Inc acquired a new position in Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new position in Salesforce during the 4th quarter worth $31,000. Collier Financial bought a new stake in Salesforce during the fourth quarter valued at about $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at about $35,000. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Up 0.7 %

NYSE:CRM traded up $1.82 during trading hours on Tuesday, hitting $270.18. 4,596,911 shares of the stock were exchanged, compared to its average volume of 6,638,619. The company has a market capitalization of $259.64 billion, a P/E ratio of 44.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company's 50 day moving average is $308.26 and its two-hundred day moving average is $311.67. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

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Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. This is a boost 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 annualized dividend and a yield of 0.62%. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company's stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock worth $14,095,336 over the last three months. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CRM has been the subject of several research analyst reports. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Truist Financial reissued a "buy" rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Royal Bank of Canada boosted their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Macquarie reissued a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Finally, Canaccord Genuity Group dropped their price objective on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One investment 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $361.42.

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.