Capital Group Private Client Services Inc. Has $81.47 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Capital Group Private Client Services Inc. reduced its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,667 shares of the CRM provider's stock after selling 2,707 shares during the quarter. Capital Group Private Client Services Inc.'s holdings in Salesforce were worth $81,465,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CRM. Nvest Financial LLC boosted its position in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after acquiring an additional 31 shares during the last quarter. OMC Financial Services LTD lifted its position in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC increased its stake in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC grew its position in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after buying an additional 32 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares of the company's stock, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This trade represents a 16.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,654 shares of company stock valued at $14,124,094 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CRM has been the subject of several research reports. Stephens assumed coverage on Salesforce in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 target price for the company. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Stifel Nicolaus reduced their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group decreased their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Piper Sandler reissued an "overweight" rating on shares of Salesforce in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $357.49.

Salesforce Stock Performance

NYSE CRM traded up $7.53 on Tuesday, hitting $243.79. 2,438,501 shares of the stock were exchanged, compared to its average volume of 6,777,036. The company has a market capitalization of $234.28 billion, a PE ratio of 39.99, a P/E/G ratio of 2.58 and a beta of 1.38. The business's fifty day moving average is $279.43 and its 200 day moving average is $309.44. 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.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is presently 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.