First Financial Bank Trust Division Sells 2,585 Shares of Salesforce Inc. $CRM

Key Points

• First Financial Bank Trust Division reduced its stake in Salesforce Inc. by 10.9%, selling 2,585 shares and holding 21,023 shares valued at approximately $5.73 million as of the end of the second quarter.
• Salesforce reported $2.91 EPS for the latest quarter, exceeding the expected $2.78, while revenue grew 9.8% year-over-year to reach $10.24 billion.
• The company declared a quarterly dividend of $0.416, with a scheduled payout on October 9th, representing an annualized dividend of $1.66 and a yield of 0.7%.

First Financial Bank Trust Division trimmed its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,023 shares of the CRM provider's stock after selling 2,585 shares during the period. First Financial Bank Trust Division's holdings in Salesforce were worth $5,733,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in Salesforce during the fourth quarter valued at about $25,000. Wood Tarver Financial Group LLC bought a new position in Salesforce during the fourth quarter valued at about $35,000. Capital A Wealth Management LLC increased its stake in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 90 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 85 shares during the period. Finally, Abound Financial LLC bought a new stake in shares of Salesforce in the 1st quarter valued at approximately $31,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Down 1.5%

NYSE:CRM opened at $242.68 on Friday. The stock's fifty day moving average price is $253.21 and its two-hundred day moving average price is $264.79. Salesforce Inc. has a 52-week low of $226.48 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $231.03 billion, a price-to-earnings ratio of 35.27, a P/E/G ratio of 2.24 and a beta of 1.22.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (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 firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the prior year, the business earned $2.56 EPS. The business's revenue for the quarter 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. On average, analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

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

Insiders Place Their Bets

In related news, Director David Blair Kirk purchased 3,400 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were bought at an average price of $254.66 per share, with a total value of $865,844.00. Following the purchase, the director directly owned 3,824 shares in the company, valued at $973,819.84. This trade represents a 801.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total transaction of $578,295.00. Following the completion of the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,061,511,978.42. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,577 shares of company stock worth $18,005,778. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRM. KeyCorp lowered their price objective on Salesforce from $440.00 to $400.00 and set an "overweight" rating on the stock in a research note on Thursday, September 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on Salesforce from $400.00 to $340.00 and set a "buy" rating on the stock in a research note on Thursday, September 4th. BMO Capital Markets lowered their price objective on Salesforce from $335.00 to $280.00 and set an "outperform" rating on the stock in a research note on Thursday, September 4th. Citigroup upped their price objective on Salesforce from $275.00 to $276.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Stifel Nicolaus reduced their target price on Salesforce from $375.00 to $325.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $332.58.

Salesforce 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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