IHT Wealth Management LLC Has $3.72 Million Position in Salesforce, Inc. (NYSE:CRM)

IHT Wealth Management LLC reduced its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 23.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,124 shares of the CRM provider's stock after selling 3,415 shares during the quarter. IHT Wealth Management LLC's holdings in Salesforce were worth $3,719,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the fourth quarter valued at about $25,000. Arlington Trust Co LLC increased 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 acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce in the fourth quarter worth about $30,000. Asset Planning Inc acquired a new position in shares of Salesforce during the fourth quarter worth approximately $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $32,000. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 500 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now directly owns 6,557 shares of the company's stock, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. The trade was a 16.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group reduced their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Oppenheimer cut their price objective on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Citigroup reaffirmed a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Loop Capital dropped their target price on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Finally, Piper Sandler dropped their price objective on Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $351.37.

Salesforce Stock Up 1.2 %

Shares of NYSE:CRM traded up $3.17 during midday trading on Friday, reaching $267.87. The company had a trading volume of 5,649,271 shares, compared to its average volume of 6,803,870. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market cap of $257.42 billion, a PE ratio of 44.06, a P/E/G ratio of 2.58 and a beta of 1.38. 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 business's 50 day moving average price is $274.96 and its 200 day moving average price is $308.44.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. Salesforce's payout ratio is 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.