Beaumont Asset Management L.L.C. Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Beaumont Asset Management L.L.C. grew its holdings in Salesforce, Inc. (NYSE:CRM) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,901 shares of the CRM provider’s stock after purchasing an additional 39 shares during the period. Salesforce comprises approximately 1.7% of Beaumont Asset Management L.L.C.’s holdings, making the stock its 12th largest holding. Beaumont Asset Management L.L.C.’s holdings in Salesforce were worth $2,342,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CRM. Naples Global Advisors LLC increased its position in shares of Salesforce by 16.5% in the third quarter. Naples Global Advisors LLC now owns 2,557 shares of the CRM provider’s stock valued at $519,000 after buying an additional 363 shares in the last quarter. Traynor Capital Management Inc. lifted its stake in shares of Salesforce by 8.8% in the 3rd quarter. Traynor Capital Management Inc. now owns 1,299 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 105 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Salesforce by 15.1% in the 3rd quarter. Capital Investment Advisors LLC now owns 6,584 shares of the CRM provider’s stock valued at $1,335,000 after purchasing an additional 864 shares during the last quarter. Montecito Bank & Trust purchased a new stake in shares of Salesforce in the 3rd quarter valued at $248,000. Finally, Impact Partnership Wealth LLC raised its holdings in shares of Salesforce by 226.5% in the 3rd quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock valued at $65,000 after buying an additional 222 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CRM shares. UBS Group increased their price objective on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. JPMorgan Chase & Co. raised their price target on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Piper Sandler reissued a “neutral” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday, April 15th. Finally, StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the completion of the transaction, the chief executive officer now directly owns 12,827,327 shares of the company’s stock, valued at $3,475,435,977.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00. Following the completion of the transaction, the chief executive officer now directly owns 12,827,327 shares in the company, valued at $3,475,435,977.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Brian Millham sold 393 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $280.00, for a total transaction of $110,040.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 596,379 shares of company stock valued at $175,587,970. Insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM traded up $2.87 during midday trading on Tuesday, hitting $276.68. The company’s stock had a trading volume of 6,192,207 shares, compared to its average volume of 5,707,583. The stock has a fifty day moving average price of $297.00 and a 200 day moving average price of $262.79. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $268.38 billion, a price-to-earnings ratio of 65.07, a P/E/G ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. On average, research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce’s dividend payout ratio (DPR) 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.