Talbot Financial LLC Has $16.41 Million Position in Salesforce, Inc. (NYSE:CRM)

Talbot Financial LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 1.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 61,151 shares of the CRM provider's stock after selling 1,078 shares during the quarter. Salesforce comprises approximately 2.1% of Talbot Financial LLC's holdings, making the stock its 15th largest position. Talbot Financial LLC's holdings in Salesforce were worth $16,411,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 705 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 9,323 shares in the company, valued at approximately $2,605,219.12. This trade represents a 7.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,332 shares of company stock valued at $11,024,802. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Salesforce stock traded down $1.19 on Wednesday, reaching $263.28. 3,969,316 shares of the stock were exchanged, compared to its average volume of 6,621,833. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $227.77 and a twelve month high of $369.00. The firm has a fifty day moving average price of $266.65 and a two-hundred day moving average price of $303.58. The stock has a market cap of $251.70 billion, a PE ratio of 43.30, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.64%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent analyst reports. Royal Bank of Canada cut shares of Salesforce from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $420.00 to $275.00 in a report on Thursday, May 29th. Barclays reduced their price target on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research report on Thursday, May 29th. Scotiabank lowered their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Piper Sandler increased their target price on Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Finally, Citigroup lowered their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $346.34.

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.