Wealth Alliance Advisory Group LLC Has $1.51 Million Stake in Salesforce, Inc. (NYSE:CRM)

Wealth Alliance Advisory Group LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 30.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,524 shares of the CRM provider's stock after buying an additional 1,059 shares during the period. Wealth Alliance Advisory Group LLC's holdings in Salesforce were worth $1,513,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GM Advisory Group LLC acquired a new stake in shares of Salesforce in the 2nd quarter valued at $227,000. Bridges Investment Management Inc. raised its holdings in Salesforce by 263.7% during the 2nd quarter. Bridges Investment Management Inc. now owns 4,714 shares of the CRM provider's stock worth $1,212,000 after purchasing an additional 3,418 shares during the last quarter. Pacer Advisors Inc. lifted its position in Salesforce by 14.5% during the 2nd quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider's stock valued at $24,734,000 after purchasing an additional 12,193 shares during the period. Garden State Investment Advisory Services LLC boosted its stake in shares of Salesforce by 9.2% in the 2nd quarter. Garden State Investment Advisory Services LLC now owns 2,557 shares of the CRM provider's stock valued at $658,000 after purchasing an additional 216 shares during the last quarter. Finally, Columbus Hill Capital Management L.P. grew its position in shares of Salesforce by 87.6% during the 2nd quarter. Columbus Hill Capital Management L.P. now owns 73,759 shares of the CRM provider's stock worth $18,963,000 after buying an additional 34,435 shares during the period. Institutional investors own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. Loop Capital raised their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Northland Securities reissued an "outperform" rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Canaccord Genuity Group boosted their target price on Salesforce from $315.00 to $415.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Erste Group Bank raised Salesforce from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average price target of $377.63.

Salesforce Stock Performance

NYSE CRM traded up $4.77 during trading on Friday, reaching $324.77. 6,283,814 shares of the company's stock were exchanged, compared to its average volume of 4,604,853. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day moving average price of $337.31 and a 200-day moving average price of $291.80. The stock has a market capitalization of $310.81 billion, a P/E ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The firm's revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce's dividend payout ratio is 26.32%.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company's stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the company's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the sale, the insider now directly owns 118,514 shares of the company's stock, valued at $34,229,213.48. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,183,838 shares of company stock worth $405,595,158 in the last 90 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.