Stamos Capital Partners L.P. Sells 5,870 Shares of Salesforce, Inc. (NYSE:CRM)

Stamos Capital Partners L.P. decreased its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 56.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,490 shares of the CRM provider's stock after selling 5,870 shares during the quarter. Stamos Capital Partners L.P.'s holdings in Salesforce were worth $1,501,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Salesforce during the fourth quarter valued at approximately $3,599,867,000. Raymond James Financial Inc. bought a new position in Salesforce during the 4th quarter worth $1,173,564,000. Invesco Ltd. increased its position in Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after buying an additional 2,325,156 shares during the period. Jennison Associates LLC boosted its stake in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Finally, Swedbank AB grew its holdings in Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock worth $1,280,408,000 after buying an additional 1,219,254 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Up 0.5 %

NYSE:CRM traded up $1.33 during mid-day trading on Tuesday, hitting $255.88. 438,622 shares of the company's stock were exchanged, compared to its average volume of 6,796,415. The firm has a market capitalization of $245.90 billion, a P/E ratio of 42.04, a PEG ratio of 2.58 and a beta of 1.38. 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 fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a 50 day simple moving average of $287.42 and a 200-day simple moving average of $310.55.

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Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders 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 0.66%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is 26.10%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CRM. Bank of America decreased their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Wedbush restated an "outperform" rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Guggenheim reiterated a "sell" rating and set a $247.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Stephens initiated coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price objective on the stock. Finally, Stifel Nicolaus cut their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One investment 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 stock. Based on data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus target price of $360.76.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the 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 transaction, the chief financial officer now owns 45,861 shares of the company's stock, valued at $15,128,626.68. This represents a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Oscar Munoz bought 3,882 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the acquisition, the director now owns 11,843 shares in the company, valued at $3,046,967.04. This represents a 48.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 45,660 shares of company stock worth $14,095,336 over the last ninety days. Insiders own 3.20% of the company's stock.

Salesforce Company 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.