Fulton Breakefield Broenniman LLC Lowers Stock Holdings in Salesforce Inc. (NYSE:CRM)

Fulton Breakefield Broenniman LLC reduced its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,254 shares of the CRM provider's stock after selling 1,498 shares during the period. Fulton Breakefield Broenniman LLC's holdings in Salesforce were worth $15,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of CRM. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth $27,000. Abound Financial LLC purchased a new position in Salesforce in the first quarter worth $31,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at $35,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Salesforce in the fourth quarter worth $45,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of Salesforce stock traded up $1.92 on Monday, hitting $259.99. 2,223,072 shares of the company's stock were exchanged, compared to its average volume of 6,531,339. The stock has a market capitalization of $248.55 billion, a PE ratio of 40.67, a PEG ratio of 2.34 and a beta of 1.36. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The company has a 50-day simple moving average of $272.09 and a 200-day simple moving average of $288.49. 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 released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 EPS. As a group, equities analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were issued a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. Salesforce's payout ratio is 25.98%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Macquarie restated a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. JMP Securities reiterated a "market outperform" rating and issued a $430.00 price target on shares of Salesforce in a report on Friday. Scotiabank decreased their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Erste Group Bank lowered shares of Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, BMO Capital Markets decreased their price target on shares of Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $348.16.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 405 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the sale, the insider directly owned 9,933 shares of the company's stock, valued at $2,605,922.55. The trade was a 3.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 1,142 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $299,603.70. Following the transaction, the insider owned 136,824 shares in the company, valued at approximately $35,895,776.40. This represents a 0.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,284 shares of company stock valued at $9,444,537. 3.20% of the stock is owned by company insiders.

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.