4WEALTH Advisors Inc. Takes $453,000 Position in Salesforce, Inc. (NYSE:CRM)

4WEALTH Advisors Inc. bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, HoldingsChannel.com reports. The firm bought 1,356 shares of the CRM provider’s stock, valued at approximately $453,000.

Several other institutional investors have also modified their holdings of the business. Foundations Investment Advisors LLC lifted its position in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares during the last quarter. Athena Investment Management acquired a new stake in shares of Salesforce during the fourth quarter worth about $236,000. Highland Capital Management LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at about $4,321,000. Nordea Investment Management AB grew its stake in Salesforce by 11.9% during the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider’s stock worth $766,566,000 after buying an additional 243,008 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its position in Salesforce by 14.1% during the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider’s stock worth $5,252,000 after buying an additional 1,936 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CRM. DA Davidson reissued an “underperform” rating and set a $200.00 price target on shares of Salesforce in a report on Monday, April 21st. Bank of America reduced their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Westpark Capital reaffirmed a “buy” rating and issued a $320.00 target price on shares of Salesforce in a report on Wednesday. Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Finally, Oppenheimer cut their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $350.56.

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the sale, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. This represents a 41.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is owned by insiders.

Salesforce Trading Up 0.2 %

NYSE:CRM opened at $269.17 on Friday. The stock’s 50 day moving average price is $269.95 and its 200 day moving average price is $307.67. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market capitalization of $258.78 billion, a P/E ratio of 44.27, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. Salesforce’s payout ratio is currently 26.10%.

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.