Middleton & Co. Inc. MA Decreases Holdings in Salesforce Inc. (NYSE:CRM)

Middleton & Co. Inc. MA trimmed its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,517 shares of the CRM provider's stock after selling 1,125 shares during the quarter. Salesforce makes up 1.9% of Middleton & Co. Inc. MA's holdings, making the stock its 14th biggest position. Middleton & Co. Inc. MA's holdings in Salesforce were worth $15,972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRM. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the fourth quarter valued at about $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $27,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at approximately $35,000. Capital A Wealth Management LLC boosted its holdings in Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after buying an additional 90 shares during the period. Finally, CBIZ Investment Advisory Services LLC grew its stake in 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 buying an additional 85 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. BMO Capital Markets dropped their target price on Salesforce from $350.00 to $335.00 and set an "outperform" rating on the stock in a research report on Thursday, July 10th. Barclays dropped their price objective on Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Mizuho reduced their target price on Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $275.00 price target on shares of Salesforce in a report on Monday, July 14th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $404.00 price objective (up previously from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $348.16.

Salesforce Price Performance

CRM stock opened at $252.21 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The firm has a 50-day moving average of $265.62 and a 200 day moving average of $281.14. The company has a market cap of $241.11 billion, a P/E ratio of 39.47, a PEG ratio of 2.28 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last announced 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. The firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 EPS. On average, sell-side analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce's dividend payout ratio (DPR) is currently 25.98%.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $251.94, for a total value of $566,865.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at $3,001,001,197.74. This trade represents a 0.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 41,979 shares of company stock worth $11,330,746. Insiders own 3.20% of the company's stock.

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.

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