Westbourne Investment Advisors Inc. Has $5.85 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Westbourne Investment Advisors Inc. lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 21,388 shares of the CRM provider’s stock after purchasing an additional 714 shares during the quarter. Salesforce accounts for about 2.0% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 19th largest position. Westbourne Investment Advisors Inc.’s holdings in Salesforce were worth $5,854,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Tobam raised its holdings in Salesforce by 7.3% in the 1st quarter. Tobam now owns 1,769 shares of the CRM provider’s stock valued at $533,000 after buying an additional 120 shares during the last quarter. GSB Wealth Management LLC acquired a new stake in shares of Salesforce during the 1st quarter worth approximately $213,000. Haverford Trust Co increased its stake in shares of Salesforce by 28.3% in the 1st quarter. Haverford Trust Co now owns 3,512 shares of the CRM provider’s stock valued at $1,058,000 after acquiring an additional 775 shares in the last quarter. Magnolia Capital Advisors LLC lifted its position in shares of Salesforce by 20.1% during the 1st quarter. Magnolia Capital Advisors LLC now owns 3,925 shares of the CRM provider’s stock valued at $1,182,000 after acquiring an additional 656 shares during the period. Finally, Adapt Wealth Advisors LLC bought a new position in Salesforce during the first quarter worth $283,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

NYSE CRM traded up $3.35 on Friday, hitting $294.72. The stock had a trading volume of 3,527,502 shares, compared to its average volume of 3,816,890. The firm has a 50-day moving average of $273.02 and a 200-day moving average of $263.27. The company has a market capitalization of $281.75 billion, a price-to-earnings ratio of 51.26, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a 52-week low of $204.69 and a 52-week high of $318.71.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 60,522 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,303 shares of company stock valued at $42,024,385. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Piper Sandler downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. TD Cowen raised their price objective on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Canaccord Genuity Group upped their target price on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Citigroup lifted their price objective on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

Salesforce 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.