Salesforce, Inc. (NYSE:CRM) Position Trimmed by Philadelphia Trust Co.

Philadelphia Trust Co. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,488 shares of the CRM provider's stock after selling 2,309 shares during the quarter. Salesforce accounts for approximately 0.9% of Philadelphia Trust Co.'s portfolio, making the stock its 26th largest holding. Philadelphia Trust Co.'s holdings in Salesforce were worth $12,868,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NFP Retirement Inc. increased its position in shares of Salesforce by 6.5% in the fourth quarter. NFP Retirement Inc. now owns 1,111 shares of the CRM provider's stock valued at $371,000 after buying an additional 68 shares in the last quarter. Sterling Capital Management LLC raised its position in Salesforce by 1.9% during the fourth quarter. Sterling Capital Management LLC now owns 45,457 shares of the CRM provider's stock worth $15,198,000 after acquiring an additional 834 shares during the last quarter. Schiavi & Co LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at about $217,000. Hobbs Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $291,000. Finally, Coign Capital Advisors LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $718,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup reissued a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. DA Davidson decreased their price target on shares of Salesforce from $275.00 to $250.00 and set a "neutral" rating on the stock in a research note on Monday. Wells Fargo & Company cut their price objective on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Oppenheimer reduced their target price on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Finally, TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and increased their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. One investment 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and an average target price of $360.76.

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Salesforce Stock Performance

Salesforce stock traded down $0.96 during mid-day trading on Monday, reaching $254.04. The company's stock had a trading volume of 6,037,638 shares, compared to its average volume of 6,820,881. The business has a 50 day moving average price of $289.29 and a 200-day moving average price of $310.70. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market cap of $244.13 billion, a price-to-earnings ratio of 41.78, a PEG ratio of 2.58 and a beta of 1.38.

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 issued a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.66%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insider Buying and Selling at Salesforce

In other news, Director Oscar Munoz bought 3,882 shares of Salesforce stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $257.28 per share, with a total value of $998,760.96. Following the purchase, the director now directly owns 11,843 shares of the company's stock, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares in the company, valued at $2,202,758.58. The trade was a 7.09 % decrease in their position. 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 ninety days. Company insiders own 3.20% of the company's stock.

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.