Kolinsky Wealth Management LLC Has $517,000 Stake in Salesforce, Inc. (NYSE:CRM)

Kolinsky Wealth Management LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,546 shares of the CRM provider’s stock after buying an additional 186 shares during the period. Kolinsky Wealth Management LLC’s holdings in Salesforce were worth $517,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce during the fourth quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC grew its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc bought a new position in shares of Salesforce in the fourth quarter worth about $31,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.0%

Shares of NYSE CRM opened at $287.64 on Wednesday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market cap of $276.53 billion, a P/E ratio of 47.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The firm has a 50 day moving average price of $268.48 and a two-hundred day moving average price of $307.02. 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 issued a $0.42 dividend. This is an increase 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 0.58%. Salesforce’s dividend payout ratio is currently 26.10%.

Insider Activity

In related news, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company’s stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Miguel Milano sold 458 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,306 shares of company stock valued at $12,841,368 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CRM. DA Davidson reissued an “underperform” rating and set a $200.00 target price on shares of Salesforce in a research report on Monday, April 21st. Citigroup restated a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. Westpark Capital reaffirmed a “buy” rating and set a $320.00 target price on shares of Salesforce in a report on Wednesday, April 30th. Guggenheim upgraded shares of Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Finally, Cantor Fitzgerald assumed coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They issued an “overweight” rating and a $210.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $352.62.

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.