Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $79.72 Million Stock Holdings in Salesforce Inc. (NYSE:CRM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in Salesforce Inc. (NYSE:CRM - Free Report) by 0.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 318,284 shares of the CRM provider's stock after selling 1,056 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Salesforce were worth $79,724,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mainstream Capital Management LLC raised its holdings in Salesforce by 0.5% during the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock worth $2,143,000 after purchasing an additional 33 shares during the last quarter. Wulff Hansen & CO. grew its position in shares of Salesforce by 3.5% during the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider's stock worth $346,000 after buying an additional 35 shares during the period. WR Wealth Planners LLC raised its stake in shares of Salesforce by 9.0% during the fourth quarter. WR Wealth Planners LLC now owns 449 shares of the CRM provider's stock worth $150,000 after buying an additional 37 shares during the last quarter. Fielder Capital Group LLC lifted its holdings in Salesforce by 3.0% in the fourth quarter. Fielder Capital Group LLC now owns 1,289 shares of the CRM provider's stock valued at $431,000 after buying an additional 38 shares during the period. Finally, Seven Mile Advisory lifted its holdings in Salesforce by 2.3% in the fourth quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider's stock valued at $589,000 after buying an additional 39 shares during the period. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Up 1.0%

Salesforce stock opened at $270.50 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The company has a fifty day simple moving average of $269.86 and a 200 day simple moving average of $295.19. The company has a market cap of $258.60 billion, a P/E ratio of 42.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the previous year, the company earned $2.44 earnings per share. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Buying and Selling at Salesforce

In other news, CEO Brian Millham sold 979 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $248,333.14. Following the completion of the sale, the chief executive officer now owns 6,487 shares in the company, valued at approximately $1,645,492.42. This trade represents a 13.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Oscar Munoz purchased 3,882 shares of the stock in a transaction on Thursday, April 3rd. The stock was bought at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the acquisition, the director now owns 11,843 shares in the company, valued at approximately $3,046,967.04. This trade represents a 48.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 26,284 shares of company stock valued at $6,996,762 in the last quarter. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on CRM shares. Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Barclays dropped their price objective on Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Macquarie reaffirmed a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. Finally, Jefferies Financial Group reduced their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus price target of $349.08.

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.

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