Glenview Trust co Has $24.63 Million Stock Position in Salesforce Inc. $CRM

Key Points

• Glenview Trust Co. has increased its position in Salesforce Inc. by 67.3%, now owning 91,772 shares valued at approximately $24.6 million.
• Salesforce reported a strong earnings performance with $2.91 EPS, exceeding analyst expectations and showing a 9.8% increase in quarterly revenue year-over-year.
• The company announced a quarterly dividend of $0.416 per share, with an annualized payment of $1.66 and a dividend yield of 0.7%.

Glenview Trust co lifted its position in Salesforce Inc. (NYSE:CRM - Free Report) by 67.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,772 shares of the CRM provider's stock after buying an additional 36,931 shares during the period. Glenview Trust co's holdings in Salesforce were worth $24,628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRM. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce during the 4th quarter worth $25,000. Capital A Wealth Management LLC boosted its stake in shares of Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after acquiring an additional 85 shares in the last quarter. Abound Financial LLC bought a new stake in shares of Salesforce during the 1st quarter worth $31,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Salesforce during the 4th quarter worth $35,000. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of Salesforce stock traded up $3.69 on Thursday, reaching $246.26. The stock had a trading volume of 6,940,645 shares, compared to its average volume of 10,011,086. The business's 50-day moving average price is $253.79 and its two-hundred day moving average price is $265.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00. The stock has a market cap of $234.44 billion, a P/E ratio of 35.79, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. Salesforce's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, sell-side analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 17th will be paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 17th. Salesforce's dividend payout ratio is presently 24.13%.

Analysts Set New Price Targets

CRM has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on shares of Salesforce from $335.00 to $280.00 and set an "outperform" rating on the stock in a research note on Thursday, September 4th. UBS Group dropped their price target on Salesforce from $300.00 to $260.00 and set a "neutral" rating on the stock in a research report on Monday, August 18th. Canaccord Genuity Group dropped their price target on Salesforce from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Thursday, September 4th. KeyCorp dropped their price target on Salesforce from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $400.00 price target on shares of Salesforce in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $332.58.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $257.02, for a total value of $578,295.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $3,061,511,978.42. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Blair Kirk bought 3,400 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was purchased at an average price of $254.66 per share, with a total value of $865,844.00. Following the completion of the purchase, the director directly owned 3,824 shares of the company's stock, valued at $973,819.84. This represents a 801.89% increase in their position. The disclosure for this purchase can be found here. Insiders sold 70,577 shares of company stock valued at $18,005,778 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

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.