Wealth Dimensions Group Ltd. Sells 50 Shares of Salesforce, Inc. (NYSE:CRM)

Wealth Dimensions Group Ltd. lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,222 shares of the CRM provider’s stock after selling 50 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in Salesforce were worth $335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its stake in shares of Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after purchasing an additional 57,825 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Salesforce by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after buying an additional 96,381 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Salesforce by 25.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after buying an additional 877,495 shares during the last quarter. Finally, ValueAct Holdings L.P. increased its stake in shares of Salesforce by 12.3% in the 2nd quarter. ValueAct Holdings L.P. now owns 3,914,309 shares of the CRM provider’s stock valued at $1,006,369,000 after buying an additional 428,000 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 1.9 %

CRM stock opened at $342.02 on Friday. The business has a 50-day moving average of $294.61 and a 200-day moving average of $268.60. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The stock has a market capitalization of $326.97 billion, a P/E ratio of 59.48, a P/E/G ratio of 3.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

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

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total value of $1,104,180.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,912,044.90. This represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,991 shares of company stock valued at $43,333,238. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of several research reports. BMO Capital Markets upped their price target on Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Roth Mkm restated a “buy” rating and set a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $336.37.

Salesforce Company 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.