AMG National Trust Bank Lowers Stock Holdings in Salesforce Inc. (NYSE:CRM)

AMG National Trust Bank lowered its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 13.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,164 shares of the CRM provider's stock after selling 1,121 shares during the quarter. AMG National Trust Bank's holdings in Salesforce were worth $1,923,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after purchasing an additional 175,035 shares in the last quarter. Northern Trust Corp raised its position in shares of Salesforce by 18.3% in 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 purchasing an additional 1,736,667 shares in the last quarter. Norges Bank acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $3,599,867,000. Price T Rowe Associates Inc. MD raised its position in shares of Salesforce by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after purchasing an additional 1,683,233 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Salesforce by 7.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,658,132 shares of the CRM provider's stock valued at $2,894,673,000 after purchasing an additional 602,445 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CRM. Citigroup dropped their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Wells Fargo & Company upped their price target on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Erste Group Bank lowered Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, The Goldman Sachs Group upped their price target on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus target price of $348.16.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 405 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $106,251.75. Following the completion of the transaction, the insider owned 9,933 shares of the company's stock, valued at approximately $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Srinivas Tallapragada sold 1,269 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $332,922.15. Following the sale, the insider directly owned 42,678 shares of the company's stock, valued at $11,196,573.30. This trade represents a 2.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,069 shares of company stock worth $9,698,893 over the last three months. Company insiders own 3.20% of the company's stock.

Salesforce Stock Up 0.3%

CRM stock traded up $0.72 during mid-day trading on Tuesday, reaching $263.00. 2,723,328 shares of the company traded hands, compared to its average volume of 6,549,623. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The firm's 50 day moving average price is $270.45 and its 200 day moving average price is $285.85. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a market cap of $251.43 billion, a price-to-earnings ratio of 41.13, a P/E/G ratio of 2.38 and a beta of 1.36.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping 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 company had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same quarter last year, the firm posted $2.44 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities research analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.63%. Salesforce's payout ratio is 25.98%.

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.