Empower Advisory Group LLC Sells 7,652 Shares of Salesforce, Inc. (NYSE:CRM)

Empower Advisory Group LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,441 shares of the CRM provider’s stock after selling 7,652 shares during the quarter. Empower Advisory Group LLC’s holdings in Salesforce were worth $122,847,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Truist Financial Corp lifted its position in Salesforce by 6.6% in the 4th quarter. Truist Financial Corp now owns 422,598 shares of the CRM provider’s stock valued at $141,287,000 after acquiring an additional 26,160 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in Salesforce by 0.5% in the 4th quarter. Pittenger & Anderson Inc. now owns 86,162 shares of the CRM provider’s stock valued at $28,806,000 after acquiring an additional 416 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV bought a new stake in Salesforce in the 4th quarter valued at $779,000. Sanctuary Advisors LLC lifted its position in Salesforce by 24.8% in the 4th quarter. Sanctuary Advisors LLC now owns 178,613 shares of the CRM provider’s stock valued at $61,366,000 after acquiring an additional 35,493 shares in the last quarter. Finally, Rational Advisors LLC bought a new stake in Salesforce in the 4th quarter valued at $3,678,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $325.49 on Monday. The company’s 50 day moving average price is $336.56 and its two-hundred day moving average price is $303.42. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $311.49 billion, a PE ratio of 53.53, a PEG ratio of 2.66 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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 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 quarter in the previous year, the company earned $1.62 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a research report on Monday, January 6th. Robert W. Baird boosted their price target on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted their price target on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Macquarie reissued a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Citigroup boosted their price target on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $377.63.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock worth $384,366,700 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.