Charter Research & Investment Group Inc. Has $2.69 Million Position in Salesforce, Inc. (NYSE:CRM)

Charter Research & Investment Group Inc. cut its position in Salesforce, Inc. (NYSE:CRM) by 0.6% during the 4th quarter, HoldingsChannel reports. The firm owned 8,052 shares of the CRM provider’s stock after selling 50 shares during the quarter. Salesforce comprises about 2.1% of Charter Research & Investment Group Inc.’s portfolio, making the stock its 15th largest holding. Charter Research & Investment Group Inc.’s holdings in Salesforce were worth $2,692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new position in Salesforce in the 4th quarter worth $31,000. Collier Financial bought a new position in Salesforce during the 4th quarter worth about $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at about $35,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Citigroup reissued a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Wedbush reissued an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Robert W. Baird decreased their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $362.74.

Salesforce Trading Down 2.8 %

Shares of Salesforce stock opened at $270.04 on Friday. 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, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market capitalization of $259.51 billion, a price-to-earnings ratio of 44.42, a PEG ratio of 2.58 and a beta of 1.35. The firm’s 50-day moving average price is $309.39 and its two-hundred day moving average price is $311.13.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock worth $14,095,336 over the last three months. Corporate insiders own 3.20% of the company’s stock.

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.