Salesforce, Inc. (NYSE:CRM) Stake Cut by Wellington Wealth Strategies LLC.

Wellington Wealth Strategies LLC. reduced its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 60.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 915 shares of the CRM provider's stock after selling 1,407 shares during the quarter. Wellington Wealth Strategies LLC.'s holdings in Salesforce were worth $302,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several analysts recently weighed in on CRM shares. Jefferies Financial Group cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Stifel Nicolaus dropped their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Redburn Atlantic started coverage on Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating for the company. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $351.59.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 458 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. This trade represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Parker Harris sold 3,273 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $931,430.34. Following the completion of the transaction, the insider now directly owns 125,146 shares in the company, valued at approximately $35,614,048.68. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of NYSE CRM traded down $9.84 during mid-day trading on Friday, reaching $273.58. The company had a trading volume of 5,185,441 shares, compared to its average volume of 6,907,731. The company has a 50-day moving average price of $268.58 and a two-hundred day moving average price of $306.75. The stock has a market cap of $263.01 billion, a PE ratio of 44.91, a P/E/G ratio of 2.58 and a beta of 1.42. 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 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. Salesforce's dividend payout ratio (DPR) is 26.10%.

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.