Brendel Financial Advisors LLC Purchases Shares of 6,234 Salesforce, Inc. (NYSE:CRM)

Brendel Financial Advisors LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,234 shares of the CRM provider’s stock, valued at approximately $2,084,000.

Several other institutional investors have also added to or reduced their stakes in CRM. Moseley Investment Management Inc. raised its stake in Salesforce by 29.4% in the fourth quarter. Moseley Investment Management Inc. now owns 3,524 shares of the CRM provider’s stock worth $1,178,000 after buying an additional 801 shares in the last quarter. Acropolis Investment Management LLC bought a new position in Salesforce in the fourth quarter worth about $122,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Salesforce by 186.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,420 shares of the CRM provider’s stock worth $475,000 after buying an additional 924 shares in the last quarter. Park Avenue Securities LLC raised its stake in Salesforce by 18.1% in the fourth quarter. Park Avenue Securities LLC now owns 30,708 shares of the CRM provider’s stock worth $10,267,000 after buying an additional 4,704 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its stake in Salesforce by 7.7% in the fourth quarter. Kathmere Capital Management LLC now owns 1,064 shares of the CRM provider’s stock worth $356,000 after buying an additional 76 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 1.3 %

Shares of NYSE CRM opened at $323.31 on Wednesday. The firm’s 50-day moving average price is $336.76 and its 200-day moving average price is $290.66. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $309.41 billion, a price-to-earnings ratio of 53.18, a P/E/G ratio of 3.20 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.62 earnings per share. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Citigroup raised their target price on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Macquarie reaffirmed a “neutral” rating and set a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Finally, Wells Fargo & Company raised their target price on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $376.05.

Insider Activity

In related news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at approximately $15,100,399.70. This represents a 1.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brian Millham sold 6,161 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the transaction, the chief operating officer now owns 969 shares in the company, valued at $280,767.75. The trade was a 86.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,177,617 shares of company stock worth $403,542,975. 3.20% of the stock is currently owned by corporate insiders.

Salesforce 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.