Xcel Wealth Management LLC Has $683,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Xcel Wealth Management LLC decreased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 46.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,495 shares of the CRM provider’s stock after selling 2,202 shares during the period. Xcel Wealth Management LLC’s holdings in Salesforce were worth $683,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Global Assets Advisory LLC bought a new position in shares of Salesforce during the 1st quarter worth approximately $8,557,000. Mechanics Bank Trust Department acquired a new stake in shares of Salesforce during the first quarter worth $230,000. Fermata Advisors LLC acquired a new stake in shares of Salesforce during the first quarter worth $418,000. Hoxton Planning & Management LLC acquired a new stake in shares of Salesforce during the first quarter worth $220,000. Finally, Exchange Bank acquired a new stake in shares of Salesforce during the first quarter worth $229,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock traded down $3.39 during trading on Tuesday, hitting $287.90. The stock had a trading volume of 1,555,891 shares, compared to its average volume of 6,372,330. The firm has a market cap of $278.98 billion, a price-to-earnings ratio of 52.01, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The business’s 50-day moving average is $267.44 and its 200 day moving average is $263.18. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 942 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $264.78, for a total transaction of $249,422.76. Following the completion of the transaction, the insider now owns 118,514 shares of the company’s stock, valued at approximately $31,380,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Parker Harris sold 942 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $264.78, for a total value of $249,422.76. Following the sale, the insider now owns 118,514 shares in the company, valued at approximately $31,380,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,110 shares of company stock worth $20,292,760 over the last three months. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CRM shares. Cfra set a $343.00 target price on Salesforce in a research note on Thursday. Robert W. Baird upped their target price on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Roth Mkm reiterated a “buy” rating and set a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. BMO Capital Markets boosted their price target on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley boosted their price target on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $311.66.

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.