FRG Family Wealth Advisors LLC Reduces Stock Position in Salesforce, Inc. (NYSE:CRM)

FRG Family Wealth Advisors LLC decreased its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 17,007 shares of the CRM provider's stock after selling 975 shares during the period. Salesforce makes up about 1.0% of FRG Family Wealth Advisors LLC's investment portfolio, making the stock its 23rd largest position. FRG Family Wealth Advisors LLC's holdings in Salesforce were worth $5,686,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nvest Financial LLC boosted its position in Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD lifted its stake in shares of 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 purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Salesforce by 4.1% in the 4th 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 during the last quarter. Sachetta LLC boosted its stake in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC raised its stake in 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 purchasing an additional 32 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

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Salesforce Stock Down 0.6 %

NYSE CRM traded down $1.45 on Monday, reaching $253.55. 2,626,796 shares of the stock traded hands, compared to its average volume of 6,807,702. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average price of $289.29 and a 200-day moving average price of $310.70. The company has a market cap of $243.66 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America dropped their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group decreased their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Oppenheimer decreased their target price on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus price target of $361.42.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares of the company's stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 652 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the sale, the insider now directly owns 121,467 shares in the company, valued at $40,361,054.76. This represents a 0.53 % 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 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.