Burling Wealth Partners LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Burling Wealth Partners LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,492 shares of the CRM provider’s stock, valued at approximately $6,183,000. Salesforce makes up approximately 1.3% of Burling Wealth Partners LLC’s holdings, making the stock its 19th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in Salesforce during the 4th quarter worth $25,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the fourth quarter worth $31,000. Finally, Collier Financial acquired a new position in Salesforce during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 2.9 %

Shares of CRM opened at $250.57 on Thursday. The stock’s fifty day simple moving average is $276.19 and its 200-day simple moving average is $308.58. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $240.79 billion, a PE ratio of 41.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.67%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s payout ratio is 26.10%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the transaction, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Millham sold 3,937 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $1,120,391.46. Following the completion of the sale, the chief executive officer now directly owns 5,518 shares of the company’s stock, valued at approximately $1,570,312.44. This trade represents a 41.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,961 shares of company stock worth $13,229,264 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Salesforce in a research report on Wednesday. They issued an “overweight” rating on the stock. Citigroup restated a “buy” rating on shares of Salesforce in a research note on Wednesday, March 19th. Macquarie reiterated a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Bank of America lowered their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Jefferies Financial Group reduced their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $355.19.

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.