Capital Advisors Wealth Management LLC Reduces Stake in Salesforce Inc. (NYSE:CRM)

Capital Advisors Wealth Management LLC lessened its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 17.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,467 shares of the CRM provider's stock after selling 970 shares during the quarter. Capital Advisors Wealth Management LLC's holdings in Salesforce were worth $1,199,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CRM. CFM Wealth Partners LLC grew its stake in Salesforce by 1.6% during the 1st quarter. CFM Wealth Partners LLC now owns 42,487 shares of the CRM provider's stock worth $11,402,000 after buying an additional 681 shares during the last quarter. Uniting Wealth Partners LLC boosted its holdings in shares of Salesforce by 2.4% in the first quarter. Uniting Wealth Partners LLC now owns 1,933 shares of the CRM provider's stock valued at $519,000 after acquiring an additional 46 shares during the period. Little House Capital LLC grew its position in shares of Salesforce by 4.8% during the first quarter. Little House Capital LLC now owns 9,045 shares of the CRM provider's stock worth $2,427,000 after acquiring an additional 411 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Salesforce by 4.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,550,977 shares of the CRM provider's stock worth $684,580,000 after acquiring an additional 117,425 shares during the last quarter. Finally, J. L. Bainbridge & Co. Inc. increased its holdings in shares of Salesforce by 8,012.4% in the 1st quarter. J. L. Bainbridge & Co. Inc. now owns 65,873 shares of the CRM provider's stock valued at $17,678,000 after acquiring an additional 65,061 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares of the company's stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Miguel Milano sold 405 shares of Salesforce stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $106,251.75. Following the sale, the insider now owns 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 disclosure for this sale can be found here. Insiders have sold a total of 26,284 shares of company stock valued at $6,996,762 over the last quarter. Insiders own 3.20% of the company's stock.

Salesforce Stock Performance

NYSE:CRM opened at $272.72 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $260.72 billion, a P/E ratio of 42.68, a price-to-earnings-growth ratio of 2.48 and a beta of 1.38. The firm has a 50-day moving average price of $270.38 and a two-hundred day moving average price of $294.25. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same period last year, the company posted $2.44 EPS. The company's revenue was up 7.6% on a year-over-year basis. As a group, research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.61%. Salesforce's dividend payout ratio is currently 25.98%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent research reports. Citigroup decreased their price target on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Sanford C. Bernstein increased their target price on shares of Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research note on Thursday, May 29th. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Erste Group Bank cut Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, BMO Capital Markets dropped their target price on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a report on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $349.08.

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.

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