Salesforce Inc. (NYSE:CRM) Holdings Increased by Worth Financial Advisory Group LLC

Worth Financial Advisory Group LLC boosted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 44.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,468 shares of the CRM provider's stock after purchasing an additional 1,074 shares during the period. Worth Financial Advisory Group LLC's holdings in Salesforce were worth $931,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in Salesforce during the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce during the fourth quarter worth approximately $27,000. Halbert Hargrove Global Advisors LLC purchased a new position in Salesforce during the fourth quarter worth approximately $35,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce during the 4th quarter valued at $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Salesforce during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of NYSE CRM traded up $1.29 during midday trading on Friday, hitting $260.79. The company's stock had a trading volume of 12,802,546 shares, compared to its average volume of 6,490,099. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The firm's fifty day moving average price is $268.51 and its 200-day moving average price is $297.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $249.31 billion, a P/E ratio of 40.81, a P/E/G ratio of 2.36 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same period in the previous year, the business posted $2.44 EPS. The company's quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Morgan Stanley reiterated an "overweight" rating and issued a $404.00 target price (up previously from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. UBS Group set a $404.00 target price on Salesforce and gave the company an "overweight" rating in a research note on Wednesday. Scotiabank lowered their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Finally, Westpark Capital reiterated a "buy" rating and issued a $320.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $349.08.

Insider Activity

In other Salesforce news, insider Parker Harris sold 3,273 shares of the business's stock in a transaction dated Monday, March 24th. The shares were 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 of the company's stock, valued at $35,614,048.68. The trade was a 2.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 705 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $279.44, for a total transaction of $197,005.20. Following the transaction, the insider now directly owns 9,323 shares of the company's stock, valued at $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,111 shares of company stock valued at $9,299,283. Company insiders own 3.20% of the company's stock.

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.