Family Legacy Financial Solutions LLC Invests $347,000 in Salesforce Inc. $CRM

Key Points

• Family Legacy Financial Solutions LLC acquired a new stake in Salesforce Inc., purchasing 1,272 shares valued at approximately $347,000 during the 2nd quarter.
• Salesforce reported $2.91 EPS for the latest quarter, exceeding the consensus estimate of $2.78, and had a revenue of $10.24 billion, reflecting a 9.8% year-over-year increase.
• The company is set to pay a quarterly dividend of $0.416 per share on October 9th, with an annualized dividend yield of 0.7%.

Family Legacy Financial Solutions LLC purchased a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,272 shares of the CRM provider's stock, valued at approximately $347,000.

Several other large investors have also added to or reduced their stakes in CRM. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter worth about $25,000. Capital A Wealth Management LLC boosted its stake in shares of Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after buying an additional 90 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after buying an additional 85 shares during the last quarter. Abound Financial LLC purchased a new stake in shares of Salesforce in the first quarter worth about $31,000. Finally, Christopher J. Hasenberg Inc boosted its stake in shares of Salesforce by 383.3% in the second quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider's stock worth $32,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insiders Place Their Bets

In related news, Director David Blair Kirk bought 3,400 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was purchased at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the acquisition, the director owned 3,824 shares in the company, valued at approximately $973,819.84. This trade represents a 801.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total value of $578,295.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,061,511,978.42. The trade was a 0.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,327 shares of company stock valued at $19,651,406. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent research reports. Erste Group Bank downgraded Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Deutsche Bank Aktiengesellschaft lowered their price target on Salesforce from $400.00 to $340.00 and set a "buy" rating on the stock in a research report on Thursday, September 4th. Wells Fargo & Company lowered their price target on Salesforce from $275.00 to $265.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 4th. Citigroup increased their price target on Salesforce from $275.00 to $276.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 9th. Finally, JMP Securities reiterated a "market outperform" rating and set a $430.00 price target on shares of Salesforce in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $332.58.

Salesforce Trading Up 1.1%

Shares of CRM traded up $2.76 during midday trading on Friday, hitting $247.04. 11,772,214 shares of the stock were exchanged, compared to its average volume of 9,963,242. Salesforce Inc. has a 52-week low of $226.48 and a 52-week high of $369.00. The stock has a fifty day simple moving average of $250.77 and a 200 day simple moving average of $262.77. The firm has a market cap of $235.18 billion, a P/E ratio of 35.91, a P/E/G ratio of 2.25 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the business posted $2.56 earnings per share. The company's quarterly revenue was up 9.8% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 17th will be issued a $0.416 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. Salesforce's dividend payout ratio (DPR) is 24.13%.

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.