Beaumont Financial Advisors LLC Purchases 544 Shares of Salesforce, Inc. (NYSE:CRM)

Beaumont Financial Advisors LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 27.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,521 shares of the CRM provider’s stock after buying an additional 544 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Salesforce were worth $663,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CRM. Fairfield Bush & CO. raised its holdings in Salesforce by 8.7% in the 1st quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock worth $949,000 after purchasing an additional 357 shares during the period. Roundview Capital LLC increased its position in Salesforce by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock worth $5,104,000 after buying an additional 3,809 shares in the last quarter. Covestor Ltd lifted its position in shares of Salesforce by 42.8% during the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock valued at $132,000 after buying an additional 186 shares in the last quarter. Ergoteles LLC bought a new position in shares of Salesforce during the 1st quarter valued at approximately $455,000. Finally, Mackenzie Financial Corp grew its stake in shares of Salesforce by 21.3% during the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after acquiring an additional 151,440 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Oppenheimer upped their price target on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Robert W. Baird increased their price target on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Evercore ISI increased their target price on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, Wells Fargo & Company boosted their price target on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

Salesforce Price Performance

Salesforce stock opened at $270.45 on Friday. The stock has a market cap of $262.34 billion, a price-to-earnings ratio of 64.39, a price-to-earnings-growth ratio of 2.09 and a beta of 1.28. The firm has a 50-day moving average of $297.28 and a two-hundred day moving average of $261.43. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 earnings per share. On average, research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $282.55, for a total value of $4,238,250.00. Following the completion of the sale, the chief executive officer now owns 13,731,166 shares in the company, valued at approximately $3,879,740,953.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 628,184 shares of company stock worth $184,794,698. 3.70% of the stock is currently owned by corporate insiders.

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.