Minot DeBlois Advisors LLC Acquires Shares of 4,120 Salesforce, Inc. (NYSE:CRM)

Minot DeBlois Advisors LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,120 shares of the CRM provider's stock, valued at approximately $1,378,000. Salesforce comprises about 1.3% of Minot DeBlois Advisors LLC's investment portfolio, making the stock its 24th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of CRM. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce in the 4th quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter valued at approximately $27,000. Arlington Trust Co LLC increased its holdings 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 valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter worth $30,000. Finally, Asset Planning Inc purchased a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 1,256 shares of Salesforce stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $318,157.36. Following the sale, the chief accounting officer now owns 12,826 shares of the company's stock, valued at approximately $3,248,954.06. This trade represents a 8.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 458 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now 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. Over the last ninety days, insiders have sold 52,527 shares of company stock valued at $14,882,976. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CRM. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research note on Friday, April 25th. Westpark Capital reissued a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a report on Wednesday, April 30th. TD Cowen upgraded Salesforce from a "hold" rating to a "buy" rating and upped their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Robert W. Baird decreased their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Finally, Citigroup reissued a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $352.62.

Salesforce Stock Performance

Shares of NYSE:CRM traded down $0.26 on Thursday, hitting $290.48. 4,633,150 shares of the company were exchanged, compared to its average volume of 6,873,864. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market capitalization of $279.26 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 2.58 and a beta of 1.42. The company's 50 day moving average price is $267.47 and its two-hundred day moving average price is $307.10. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend 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 (DPR) 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.