Global Wealth Management Investment Advisory Inc. Cuts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Global Wealth Management Investment Advisory Inc. lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,264 shares of the CRM provider’s stock after selling 393 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Salesforce were worth $1,648,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce in the 4th quarter valued at $26,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce in the 4th quarter valued at $31,000. Pacifica Partners Inc. raised its stake in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Salesforce in the 4th quarter valued at $34,000. Finally, AlphaMark Advisors LLC raised its stake in shares of Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of a number of research reports. Bank of America raised their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. BMO Capital Markets raised their price target on shares of Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Wells Fargo & Company raised their price target on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Mizuho reaffirmed a “buy” rating and set a $345.00 price target (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, Robert W. Baird raised their price target on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Nine equities 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 company. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $310.61.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 24,453 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Amy E. Weaver sold 942 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the sale, the chief financial officer now owns 39,416 shares in the company, valued at $12,040,011.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 24,453 shares of the stock in a transaction 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 sold a total of 610,793 shares of company stock valued at $179,074,618 in the last three months. 3.70% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

Shares of Salesforce stock traded down $0.95 on Wednesday, reaching $267.99. 1,518,770 shares of the company were exchanged, compared to its average volume of 5,581,327. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company’s 50-day moving average is $295.34 and its two-hundred day moving average is $265.65. The firm has a market cap of $259.95 billion, a price-to-earnings ratio of 63.76, a P/E/G ratio of 2.12 and a beta of 1.28. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS 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 for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the firm earned $1.01 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio is presently 9.52%.

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.