Equitable Trust Co. Buys 14,604 Shares of Salesforce Inc. $CRM

Key Points

• Equitable Trust Co. increased its stake in Salesforce Inc. by 39.3%, acquiring 14,604 shares during the 2nd quarter, bringing its total holdings to 51,761 shares valued at approximately $14.1 million.
• Salesforce's recent quarterly earnings report showed earnings per share of $2.91, exceeding analysts' expectations of $2.78, alongside a year-over-year revenue increase of 9.8% to $10.24 billion.
• The company declared a quarterly dividend of $0.416 per share, resulting in an annual yield of 0.7% and reflecting a dividend payout ratio of 24.13%.

Equitable Trust Co. raised its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 39.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,761 shares of the CRM provider's stock after buying an additional 14,604 shares during the period. Equitable Trust Co.'s holdings in Salesforce were worth $14,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Coign Capital Advisors LLC boosted its position in Salesforce by 1.7% during the 1st quarter. Coign Capital Advisors LLC now owns 2,183 shares of the CRM provider's stock valued at $586,000 after acquiring an additional 37 shares in the last quarter. Staley Capital Advisers Inc. raised its holdings in Salesforce by 1.1% in the first quarter. Staley Capital Advisers Inc. now owns 3,343 shares of the CRM provider's stock worth $897,000 after purchasing an additional 38 shares in the last quarter. KDT Advisors LLC raised its holdings in Salesforce by 4.1% in the first quarter. KDT Advisors LLC now owns 967 shares of the CRM provider's stock worth $260,000 after purchasing an additional 38 shares in the last quarter. Liberty One Investment Management LLC raised its holdings in Salesforce by 1.2% in the first quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock worth $849,000 after purchasing an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. grew its position in shares of Salesforce by 7.3% in the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after buying an additional 39 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 2.9%

NYSE:CRM opened at $248.77 on Tuesday. The firm has a market capitalization of $236.83 billion, a P/E ratio of 36.16, a PEG ratio of 2.09 and a beta of 1.19. Salesforce Inc. has a 1-year low of $226.48 and a 1-year high of $369.00. The company's fifty day moving average price is $244.61 and its 200-day moving average price is $258.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the business earned $2.56 earnings per share. The business's quarterly revenue was up 9.8% compared to the same quarter last year. 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 anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 17th were given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, September 17th. Salesforce's dividend payout ratio (DPR) is currently 24.13%.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $239.79, for a total transaction of $539,527.50. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $2,856,275,610.09. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 76,500 shares of company stock worth $19,049,130. 3.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRM. Sanford C. Bernstein cut their price objective on shares of Salesforce from $255.00 to $221.00 and set an "underperform" rating on the stock in a research report on Thursday, September 4th. Morgan Stanley increased their price objective on Salesforce from $404.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Bank of America reduced their target price on Salesforce from $350.00 to $325.00 and set a "buy" rating on the stock in a research report on Tuesday, August 26th. Royal Bank Of Canada reduced their target price on Salesforce from $275.00 to $250.00 and set a "sector perform" rating on the stock in a research report on Thursday, September 4th. Finally, UBS Group dropped their price target on Salesforce from $300.00 to $260.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. Twenty-six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $331.89.

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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