Wesbanco Bank Inc. Purchases 7,091 Shares of Salesforce Inc. $CRM

Key Points

• Wesbanco Bank Inc. increased its holdings in Salesforce Inc. by 6.8% during the second quarter, bringing its total investment to approximately $30.26 million.
• Salesforce recently announced a quarterly dividend of $0.416 per share, translating to an annual yield of 0.7%.
• Wall Street analysts are optimistic about Salesforce, with an average rating of "Moderate Buy" and a consensus target price of $332.58 for its stock.

Wesbanco Bank Inc. boosted its position in Salesforce Inc. (NYSE:CRM - Free Report) by 6.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 110,968 shares of the CRM provider's stock after acquiring an additional 7,091 shares during the period. Salesforce accounts for 0.9% of Wesbanco Bank Inc.'s investment portfolio, making the stock its 21st biggest position. Wesbanco Bank Inc.'s holdings in Salesforce were worth $30,260,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in Salesforce in the 4th quarter worth $25,000. Capital A Wealth Management LLC lifted its position in shares of Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after purchasing an additional 90 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after purchasing an additional 85 shares during the period. Abound Financial LLC purchased a new stake in shares of Salesforce in the 1st quarter worth about $31,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in shares of Salesforce in the 4th quarter worth about $35,000. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Down 1.5%

Salesforce stock traded down $3.60 during trading hours on Friday, hitting $242.68. The stock had a trading volume of 8,382,442 shares, compared to its average volume of 9,753,270. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $231.03 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. The stock's 50-day moving average price is $253.21 and its 200-day moving average price is $264.29.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results 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 during the quarter, compared to analysts' expectations of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $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. Equities research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Insider Activity

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

Analyst Ratings Changes

CRM has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Salesforce from $380.00 to $365.00 and set an "overweight" rating for the company in a research report on Thursday, September 4th. Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $430.00 target price on shares of Salesforce in a research report on Tuesday, September 2nd. Cantor Fitzgerald reissued an "overweight" rating and set a $325.00 price target on shares of Salesforce in a research report on Thursday, September 4th. Finally, Robert W. Baird lowered their price target on shares of Salesforce from $365.00 to $325.00 and set an "outperform" rating for the company in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $332.58.

Salesforce 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.