Phillips Wealth Planners LLC Has $682,000 Stock Position in Salesforce Inc. (NYSE:CRM)

Phillips Wealth Planners LLC boosted its position in Salesforce Inc. (NYSE:CRM) by 32.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,675 shares of the CRM provider’s stock after acquiring an additional 655 shares during the period. Phillips Wealth Planners LLC’s holdings in Salesforce were worth $682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Bernard Wealth Management Corp. bought a new position in Salesforce in the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new position in Salesforce in the fourth quarter worth approximately $27,000. Halbert Hargrove Global Advisors LLC bought a new position in Salesforce in the fourth quarter worth approximately $35,000. Wood Tarver Financial Group LLC bought a new position in Salesforce in the fourth quarter worth approximately $35,000. Finally, VSM Wealth Advisory LLC bought a new position in Salesforce in the fourth quarter worth approximately $45,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 261 shares of Salesforce stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $68,473.35. Following the completion of the transaction, the chief accounting officer now directly owns 12,024 shares in the company, valued at approximately $3,154,496.40. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Oscar Munoz purchased 3,882 shares of Salesforce stock in a transaction dated Thursday, April 3rd. The stock was bought at an average price of $257.28 per share, with a total value of $998,760.96. Following the completion of the transaction, the director now owns 11,843 shares of the company’s stock, valued at $3,046,967.04. This represents a 48.76% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 26,284 shares of company stock worth $6,996,762. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

NYSE:CRM opened at $268.11 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The business has a fifty day simple moving average of $269.39 and a two-hundred day simple moving average of $295.75. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The company has a market capitalization of $256.31 billion, a P/E ratio of 41.96, a P/E/G ratio of 2.46 and a beta of 1.38.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period last year, the business posted $2.44 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s dividend payout ratio is currently 25.98%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Scotiabank cut their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. The Goldman Sachs Group raised their target price on Salesforce from $340.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Westpark Capital restated a “buy” rating and issued a $320.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Erste Group Bank lowered Salesforce from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Finally, UBS Group set a $404.00 target price on Salesforce and gave the company an “overweight” rating in a report on Wednesday, June 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $349.08.

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.