LifeWealth Investments LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

LifeWealth Investments LLC purchased a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 917 shares of the CRM provider's stock, valued at approximately $307,000.

Other hedge funds have also bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC boosted its position in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter worth approximately $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Trading Down 0.8%

CRM traded down $2.12 on Wednesday, hitting $275.07. The company had a trading volume of 12,207,739 shares, compared to its average volume of 6,957,179. The firm has a market cap of $264.45 billion, a P/E ratio of 45.24, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company's fifty day moving average price is $268.29 and its 200 day moving average price is $306.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent analyst reports. Mizuho decreased their target price on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Bank of America decreased their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a research report on Wednesday. Westpark Capital reiterated a "buy" rating and set a $320.00 target price on shares of Salesforce in a research report on Wednesday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $348.59.

Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 3,273 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $931,430.34. Following the sale, the insider now owns 125,146 shares in the company, valued at $35,614,048.68. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,553 shares of company stock valued at $12,897,323. Company insiders own 3.20% of the company's stock.

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.