CMH Wealth Management LLC Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

CMH Wealth Management LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,917 shares of the CRM provider's stock after selling 5,520 shares during the quarter. Salesforce comprises approximately 1.7% of CMH Wealth Management LLC's portfolio, making the stock its 27th biggest position. CMH Wealth Management LLC's holdings in Salesforce were worth $6,955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Moss Adams Wealth Advisors LLC lifted its position in Salesforce by 3.0% during the first quarter. Moss Adams Wealth Advisors LLC now owns 2,711 shares of the CRM provider's stock valued at $728,000 after buying an additional 80 shares during the period. NewSquare Capital LLC raised its position in shares of Salesforce by 236.6% in the 1st quarter. NewSquare Capital LLC now owns 276 shares of the CRM provider's stock worth $74,000 after purchasing an additional 194 shares during the last quarter. Greystone Financial Group LLC raised its position in shares of Salesforce by 50.2% in the 1st quarter. Greystone Financial Group LLC now owns 4,252 shares of the CRM provider's stock worth $1,141,000 after purchasing an additional 1,421 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in shares of Salesforce in the 1st quarter worth about $357,000. Finally, Wesbanco Bank Inc. raised its position in shares of Salesforce by 7.7% in the 1st quarter. Wesbanco Bank Inc. now owns 103,877 shares of the CRM provider's stock worth $27,876,000 after purchasing an additional 7,467 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRM. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Barclays lowered their price target on Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research report on Thursday, May 29th. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. BMO Capital Markets lowered their price target on Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a research report on Tuesday, May 27th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $404.00 price objective (up from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $346.34.

Insider Buying and Selling

In related news, insider Miguel Milano sold 705 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the transaction, the insider now directly owns 9,323 shares of the company's stock, valued at approximately $2,605,219.12. The trade was a 7.03% 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 Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the transaction, the insider now directly owns 41,422 shares in the company, valued at approximately $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,332 shares of company stock valued at $11,024,802. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $0.65 during mid-day trading on Thursday, reaching $266.56. 8,047,893 shares of the company traded hands, compared to its average volume of 6,585,834. The company's 50 day moving average price is $267.35 and its 200-day moving average price is $301.22. The firm has a market cap of $254.83 billion, a PE ratio of 43.84, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 52 week low of $227.77 and a 52 week high of $369.00.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 EPS. On average, equities analysts expect 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 will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. Salesforce's dividend payout ratio is presently 25.98%.

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.