Salesforce, Inc. (NYSE:CRM) Shares Bought by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 27.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,521 shares of the CRM provider’s stock after purchasing an additional 544 shares during the period. Beaumont Financial Advisors LLC’s holdings in Salesforce were worth $663,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CRM. Fairfield Bush & CO. lifted its stake in Salesforce by 8.7% during the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock worth $949,000 after purchasing an additional 357 shares during the last quarter. Roundview Capital LLC increased its stake in Salesforce by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after purchasing an additional 3,809 shares during the last quarter. Covestor Ltd raised its holdings in Salesforce by 42.8% during the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after purchasing an additional 186 shares in the last quarter. Ergoteles LLC purchased a new stake in shares of Salesforce during the 1st quarter worth approximately $455,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Salesforce by 21.3% in the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after buying an additional 151,440 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research reports. Bank of America boosted their price target on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a research note on Monday, April 15th. Wedbush boosted their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Finally, KeyCorp started coverage on shares of Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating for the company. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $307.87.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brian Millham sold 24,453 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $302.08, for a total value of $7,386,762.24. The disclosure for this sale can be found here. Insiders have sold a total of 628,184 shares of company stock worth $184,794,698 over the last quarter. 3.70% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of CRM opened at $270.45 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $297.28 and its two-hundred day moving average is $261.43. The firm has a market cap of $262.34 billion, a price-to-earnings ratio of 64.39, a PEG ratio of 2.09 and a beta of 1.28. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company earned $1.01 earnings per share. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is presently 9.52%.

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.