Poehling Capital Management INC. Has $640,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Poehling Capital Management INC. lessened its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,914 shares of the CRM provider's stock after selling 955 shares during the quarter. Poehling Capital Management INC.'s holdings in Salesforce were worth $640,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Norges Bank bought a new stake in shares of Salesforce during the 4th quarter worth approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock valued at $1,422,979,000 after purchasing an additional 3,841,521 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Salesforce in the 4th quarter valued at about $1,173,564,000. Invesco Ltd. raised its stake in Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after buying an additional 2,325,156 shares during the period. Finally, Northern Trust Corp raised its stake in Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after buying an additional 1,736,667 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of CRM traded down $10.37 during midday trading on Friday, hitting $273.05. The company's stock had a trading volume of 8,878,975 shares, compared to its average volume of 6,925,114. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company's fifty day simple moving average is $268.46 and its two-hundred day simple moving average is $306.58. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $262.51 billion, a price-to-earnings ratio of 44.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.62%. Salesforce's dividend payout ratio (DPR) is 26.10%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRM. Westpark Capital reissued a "buy" rating and set a $320.00 target price on shares of Salesforce in a report on Wednesday, April 30th. Piper Sandler reduced their price objective on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Scotiabank reduced their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Jefferies Financial Group cut their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, UBS Group set a $350.00 target price on shares of Salesforce in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price of $351.59.

Insider Transactions at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the sale, the insider now owns 41,422 shares of the company's stock, valued at approximately $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Miguel Milano sold 458 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,011 shares of company stock valued at $13,038,373. 3.20% of the stock is currently owned by insiders.

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.