Eagle Strategies LLC Has $2.54 Million Holdings in Salesforce Inc. (NYSE:CRM)

Eagle Strategies LLC boosted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 353.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,479 shares of the CRM provider's stock after buying an additional 7,390 shares during the period. Eagle Strategies LLC's holdings in Salesforce were worth $2,544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new stake in Salesforce during the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce during the fourth quarter worth approximately $27,000. Halbert Hargrove Global Advisors LLC bought a new stake in Salesforce during the fourth quarter worth approximately $35,000. Wood Tarver Financial Group LLC bought a new stake in Salesforce during the fourth quarter worth approximately $35,000. Finally, VSM Wealth Advisory LLC bought a new stake in Salesforce during the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Up 0.5%

Shares of Salesforce stock opened at $260.79 on Monday. The firm has a market cap of $249.31 billion, a PE ratio of 40.81, a P/E/G ratio of 2.36 and a beta of 1.38. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00. The business's 50 day simple moving average is $268.51 and its 200 day simple moving average is $296.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 EPS. On average, analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.64%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 1,256 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $318,157.36. Following the completion of the sale, the chief accounting officer now directly owns 12,826 shares in the company, valued at $3,248,954.06. The trade was a 8.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the sale, the insider now owns 29,190 shares of the company's stock, valued at approximately $8,416,644.60. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,992 shares of company stock worth $6,704,198 in the last ninety days. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CRM shares. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Wells Fargo & Company increased their price objective on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Royal Bank Of Canada cut Salesforce from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $420.00 to $275.00 in a research report on Thursday, May 29th. Scotiabank reduced their price objective on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Finally, DA Davidson reissued an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $349.08.

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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