Salesforce Inc. (NYSE:CRM) Stock Holdings Boosted by Liberty Wealth Management LLC

Liberty Wealth Management LLC raised its position in shares of Salesforce Inc. (NYSE:CRM) by 15,681.0% in the first quarter, HoldingsChannel.com reports. The firm owned 287,372 shares of the CRM provider’s stock after buying an additional 285,551 shares during the period. Salesforce comprises about 1.4% of Liberty Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding. Liberty Wealth Management LLC’s holdings in Salesforce were worth $77,119,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC bought a new position in Salesforce during the 4th quarter valued at $27,000. Capital A Wealth Management LLC boosted its stake in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 85 shares in the last quarter. Finally, Abound Financial LLC bought a new position in Salesforce during the 1st quarter valued at $31,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $265.77, for a total value of $597,982.50. Following the sale, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at $3,165,738,224.67. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 39,729 shares of company stock valued at $10,763,881. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein raised their price objective on Salesforce from $243.00 to $255.00 and gave the stock an “underperform” rating in a research note on Thursday, May 29th. Mizuho reduced their price objective on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th. Barclays reduced their price objective on Salesforce from $425.00 to $347.00 and set an “overweight” rating for the company in a research note on Thursday, May 29th. Citigroup reduced their price objective on Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. Finally, BMO Capital Markets reduced their price objective on Salesforce from $350.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday, July 10th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $348.16.

Salesforce Stock Performance

Shares of Salesforce stock opened at $250.85 on Friday. The company has a market capitalization of $239.81 billion, a PE ratio of 39.26, a PEG ratio of 2.28 and a beta of 1.37. Salesforce Inc. has a 12 month low of $230.00 and a 12 month high of $369.00. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $266.04 and its 200 day simple moving average is $281.92.

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

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were paid a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce’s dividend payout ratio (DPR) is currently 25.98%.

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.