1,469 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Alteri Wealth LLC

Alteri Wealth LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,469 shares of the CRM provider's stock, valued at approximately $491,000.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after purchasing an additional 175,035 shares during the last quarter. Fisher Asset Management LLC raised its position in Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after buying an additional 177,321 shares during the last quarter. Northern Trust Corp lifted its stake in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares during the period. Norges Bank purchased a new stake in shares of Salesforce in the 4th quarter valued at $3,599,867,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Salesforce by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after acquiring an additional 1,683,233 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the sale, the chief accounting officer now owns 11,711 shares of the company's stock, valued at $3,220,525. The trade was a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robin L. Washington acquired 1,695 shares of the stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the acquisition, the director now directly owns 43,445 shares in the company, valued at $12,799,331.45. This represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 45,830 shares of company stock valued at $12,907,361 over the last quarter. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on CRM. Citigroup reaffirmed a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Scotiabank reduced their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Robert W. Baird dropped their price objective on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Wells Fargo & Company decreased their target price on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus decreased their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $350.56.

Salesforce Stock Performance

Shares of Salesforce stock traded down $2.68 during trading on Monday, reaching $272.40. The company's stock had a trading volume of 4,168,008 shares, compared to its average volume of 6,820,848. The firm has a market cap of $261.88 billion, a PE ratio of 44.80, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a 50-day moving average price of $268.64 and a two-hundred day moving average price of $307.67. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This is an increase 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 annualized dividend and a dividend yield of 0.62%. Salesforce's dividend payout ratio is 26.10%.

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.