Pinnacle Wealth Planning Services Inc. Reduces Position in Salesforce, Inc. (NYSE:CRM)

Pinnacle Wealth Planning Services Inc. decreased its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 51.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,238 shares of the CRM provider's stock after selling 2,357 shares during the quarter. Pinnacle Wealth Planning Services Inc.'s holdings in Salesforce were worth $748,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the 4th quarter valued at about $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter worth $27,000. Arlington Trust Co LLC increased its stake in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter valued at about $30,000. Finally, Asset Planning Inc bought a new stake in shares of Salesforce in the fourth quarter valued at about $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

CRM stock traded up $3.80 during trading on Tuesday, hitting $276.93. 10,944,663 shares of the company traded hands, compared to its average volume of 6,935,640. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock's 50-day simple moving average is $268.33 and its 200 day simple moving average is $306.20. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a market cap of $266.24 billion, a PE ratio of 45.55, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.42 dividend. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.61%. Salesforce's payout ratio is presently 26.10%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRM. Robert W. Baird dropped their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Citigroup dropped their price objective on shares of Salesforce from $335.00 to $320.00 and set a "neutral" rating on the stock in a research note on Friday. Canaccord Genuity Group reduced their price objective on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. BMO Capital Markets lowered their target price on Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Redburn Atlantic initiated coverage on Salesforce in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $349.87.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction on 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 transaction, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,553 shares of company stock worth $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.