B. Riley Wealth Advisors Inc. Has $8.18 Million Position in Salesforce, Inc. (NYSE:CRM)

B. Riley Wealth Advisors Inc. reduced its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,437 shares of the CRM provider's stock after selling 3,162 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Salesforce were worth $8,180,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Tallon Kerry Patrick bought a new position in Salesforce during the fourth quarter valued at about $236,000. Apeiron RIA LLC purchased a new stake in Salesforce in the 4th quarter worth approximately $264,000. Brighton Jones LLC raised its stake in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after purchasing an additional 3,102 shares in the last quarter. LexAurum Advisors LLC raised its stake in shares of Salesforce by 33.8% during the 4th quarter. LexAurum Advisors LLC now owns 1,068 shares of the CRM provider's stock worth $357,000 after purchasing an additional 270 shares in the last quarter. Finally, CX Institutional raised its stake in shares of Salesforce by 3.9% during the 4th quarter. CX Institutional now owns 5,858 shares of the CRM provider's stock worth $1,959,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRM. UBS Group cut their price objective on Salesforce from $320.00 to $300.00 and set a "neutral" rating on the stock in a research note on Tuesday. Stifel Nicolaus cut their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research report on Friday, April 25th. Redburn Atlantic began coverage on Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating for the company. Finally, BMO Capital Markets cut their price objective on Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $349.87.

Salesforce Price Performance

Shares of CRM stock traded up $3.80 during trading hours on Tuesday, reaching $276.93. The company's stock had a trading volume of 10,944,663 shares, compared to its average volume of 6,935,640. The firm's 50 day simple moving average is $268.33 and its 200-day simple moving average is $306.20. The company has a market capitalization of $266.24 billion, a price-to-earnings ratio of 45.55, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robin L. Washington bought 1,695 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the transaction, the director now owns 43,445 shares in the company, valued at $12,799,331.45. The trade was a 4.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 46,553 shares of company stock valued at $12,897,323. 3.20% 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.