Fiduciary Trust Co Acquires 1,673 Shares of Salesforce, Inc. (NYSE:CRM)

Fiduciary Trust Co lifted its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,238 shares of the CRM provider's stock after purchasing an additional 1,673 shares during the quarter. Fiduciary Trust Co's holdings in Salesforce were worth $15,125,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Regent Peak Wealth Advisors LLC boosted its stake in Salesforce by 3.6% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider's stock worth $818,000 after buying an additional 84 shares during the last quarter. Fortitude Family Office LLC lifted its position in Salesforce by 2.2% during the 4th quarter. Fortitude Family Office LLC now owns 2,603 shares of the CRM provider's stock worth $870,000 after acquiring an additional 55 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its position in Salesforce by 5.2% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 4,201 shares of the CRM provider's stock worth $1,405,000 after acquiring an additional 208 shares in the last quarter. ORG Partners LLC lifted its position in Salesforce by 5.4% during the 4th quarter. ORG Partners LLC now owns 3,692 shares of the CRM provider's stock worth $1,235,000 after acquiring an additional 189 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its position in Salesforce by 0.3% during the 4th quarter. ST Germain D J Co. Inc. now owns 22,676 shares of the CRM provider's stock worth $7,581,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. The trade was a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. This represents a 11.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,830 shares of company stock worth $12,907,361. Company insiders own 3.20% of the company's stock.

Salesforce Price Performance

Shares of Salesforce stock traded up $1.37 during midday trading on Tuesday, hitting $290.19. 3,455,269 shares of the company traded hands, compared to its average volume of 6,831,389. The stock has a market cap of $278.99 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm's fifty day moving average price is $267.27 and its 200-day moving average price is $307.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is 26.10%.

Wall Street Analyst Weigh In

CRM has been the topic of several research reports. Bank of America dropped their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Macquarie reiterated a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Citigroup restated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. Robert W. Baird decreased their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Finally, Jefferies Financial Group reduced their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Monday, March 31st. One 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 MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average price target of $350.56.

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.