Foster Victor Wealth Advisors LLC Acquires 4,722 Shares of Salesforce, Inc. (NYSE:CRM)

Foster Victor Wealth Advisors LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,706 shares of the CRM provider's stock after purchasing an additional 4,722 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Salesforce were worth $12,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter worth approximately $27,000. Asset Planning Inc bought a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Salesforce during the 4th quarter worth approximately $35,000. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Salesforce during the 4th quarter worth approximately $35,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CRM. Bank of America cut their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. DA Davidson restated an "underperform" rating and set a $200.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Jefferies Financial Group lowered their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Barclays lowered their target price on Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $346.34.

Salesforce Stock Performance

Shares of Salesforce stock traded down $8.66 during trading hours on Friday, hitting $258.25. 7,647,008 shares of the company's stock traded hands, compared to its average volume of 6,536,741. 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 has a market capitalization of $246.89 billion, a price-to-earnings ratio of 42.48, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12-month low of $227.77 and a 12-month high of $369.00. The company has a fifty day simple moving average of $268.09 and a 200-day simple moving average of $299.93.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm's quarterly 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. Equities research analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. Salesforce's payout ratio is 25.98%.

Insider Transactions at Salesforce

In other Salesforce news, insider Miguel Milano sold 705 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares in the company, valued at $2,605,219.12. This trade represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the transaction, the chief accounting officer now owns 11,711 shares of the company's stock, valued at approximately $3,220,525. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,332 shares of company stock worth $11,024,802. 3.20% of the stock is owned by company insiders.

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.