Haverford Trust Co lifted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,840 shares of the CRM provider's stock after acquiring an additional 2,896 shares during the quarter. Haverford Trust Co's holdings in Salesforce were worth $23,684,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter valued at about $27,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter worth $30,000. Asset Planning Inc purchased a new stake in Salesforce during the fourth quarter worth $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce in the 4th quarter valued at $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on CRM. Canaccord Genuity Group decreased their price objective on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Redburn Atlantic began coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating for the company. Guggenheim reaffirmed a "sell" rating and issued a $247.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, TD Cowen raised shares of Salesforce from a "hold" rating to a "buy" rating and lifted their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. One equities 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, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $362.74.
View Our Latest Stock Report on CRM
Salesforce Stock Down 1.1 %
Shares of NYSE CRM traded down $3.11 during trading hours on Thursday, hitting $277.88. The stock had a trading volume of 3,755,356 shares, compared to its average volume of 6,389,262. The firm's 50-day moving average price is $310.49 and its two-hundred day moving average price is $310.51. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market capitalization of $267.04 billion, a P/E ratio of 45.70, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current 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 $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.60%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 25.16%.
Insider Transactions at Salesforce
In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated 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 sale, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $216,646.56. Following the completion of the transaction, the insider now directly owns 121,467 shares of the company's stock, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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 insiders.
About Salesforce
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Free Report)
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.
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