Salesforce, Inc. (NYSE:CRM) Stake Raised by Linscomb Wealth Inc.

Linscomb Wealth Inc. grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,872 shares of the CRM provider’s stock after purchasing an additional 329 shares during the period. Linscomb Wealth Inc.’s holdings in Salesforce were worth $5,306,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Arlington Trust Co LLC grew its position in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce during the 4th quarter worth $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the fourth quarter worth $31,000. Collier Financial acquired a new stake in shares of Salesforce during the fourth quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the third quarter valued at $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $294.80 on Friday. The firm has a market capitalization of $282.12 billion, a PE ratio of 48.49, a PEG ratio of 2.58 and a beta of 1.31. 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 1 year low of $212.00 and a 1 year high of $369.00. The firm’s fifty day simple moving average is $330.03 and its 200 day simple moving average is $306.89.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 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 during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. Salesforce’s dividend payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler cut their price objective on Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday. Scotiabank cut their price target on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. BMO Capital Markets cut their target price on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Barclays increased their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. This trade represents a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,342,415. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,102,572 shares of company stock valued at $381,283,706. 3.20% of the stock is owned by company 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.