LifeWealth Investments LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

LifeWealth Investments LLC acquired a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 917 shares of the CRM provider's stock, valued at approximately $307,000.

A number of other large investors have also recently made changes to their positions in CRM. LM Advisors LLC boosted its holdings in shares of Salesforce by 13.0% in the 4th quarter. LM Advisors LLC now owns 17,378 shares of the CRM provider's stock worth $5,817,000 after purchasing an additional 2,005 shares during the period. Heck Capital Advisors LLC purchased a new position in Salesforce during the fourth quarter worth $134,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at $425,000. Integrated Advisors Network LLC lifted its holdings in shares of Salesforce by 0.5% in the 4th quarter. Integrated Advisors Network LLC now owns 11,511 shares of the CRM provider's stock worth $3,849,000 after acquiring an additional 60 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new position in shares of Salesforce during the 4th quarter worth about $362,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

CRM traded down $12.86 during trading on Thursday, reaching $263.17. 17,916,824 shares of the company's stock were exchanged, compared to its average volume of 6,995,003. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company's fifty day simple moving average is $268.16 and its 200-day simple moving average is $305.79. The stock has a market capitalization of $253.01 billion, a P/E ratio of 43.28, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter last year, the company posted $2.44 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.64%. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 705 shares of Salesforce stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares of the company's stock, valued at approximately $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin L. Washington acquired 1,695 shares of the firm's stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now owns 43,445 shares of the company's stock, valued at approximately $12,799,331.45. This trade represents a 4.06% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 46,553 shares of company stock valued at $12,897,323. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRM. Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a report on Wednesday. Robert W. Baird decreased their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Jefferies Financial Group cut their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Redburn Atlantic initiated coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, Canaccord Genuity Group lowered their price objective on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $341.87.

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.