Alpha Omega Wealth Management LLC Invests $297,000 in Salesforce Inc. $CRM

Key Points

• Alpha Omega Wealth Management LLC has invested $297,000 in Salesforce Inc., acquiring 1,089 shares in the second quarter.
• A significant percentage of Salesforce's stock, approximately 80.43%, is held by hedge funds and institutional investors, reflecting strong confidence in the company.
• Salesforce reported earnings of $2.91 per share for the last quarter, exceeding analyst expectations and demonstrating a revenue increase of 9.8% year-over-year.

Alpha Omega Wealth Management LLC acquired a new position in Salesforce Inc. (NYSE:CRM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,089 shares of the CRM provider's stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. Vanguard Group Inc. grew its stake in Salesforce by 1.6% during the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock valued at $23,592,501,000 after acquiring an additional 1,383,942 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Salesforce by 6.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,258,518 shares of the CRM provider's stock valued at $2,484,616,000 after acquiring an additional 600,386 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Salesforce by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider's stock valued at $2,419,037,000 after acquiring an additional 437,435 shares in the last quarter. Nuveen LLC purchased a new position in Salesforce during the first quarter valued at $2,039,196,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Salesforce by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,362,035 shares of the CRM provider's stock valued at $1,707,316,000 after acquiring an additional 295,681 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $248.19, for a total transaction of $558,427.50. Following the completion of the sale, the chief executive officer owned 11,911,571 shares in the company, valued at $2,956,332,806.49. This trade represents a 0.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Blair Kirk acquired 3,400 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were bought at an average price of $254.66 per share, with a total value of $865,844.00. Following the acquisition, the director directly owned 3,824 shares in the company, valued at $973,819.84. This represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 76,500 shares of company stock valued at $19,402,583 in the last 90 days. Company insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 target price on shares of Salesforce in a research note on Thursday, September 4th. Canaccord Genuity Group cut their target price on shares of Salesforce from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday, September 4th. The Goldman Sachs Group raised their target price on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. JMP Securities reiterated a "market outperform" rating and set a $430.00 price objective on shares of Salesforce in a research report on Tuesday, September 2nd. Finally, Erste Group Bank lowered shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $332.58.

Salesforce Price Performance

Salesforce stock opened at $244.46 on Wednesday. The firm has a 50-day moving average price of $250.31 and a 200-day moving average price of $262.25. The firm has a market capitalization of $232.73 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.28 and a beta of 1.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The business's revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $2.56 EPS. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. As a group, equities research analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be issued a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 17th. Salesforce's dividend payout ratio (DPR) is 24.13%.

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.

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