Abbrea Capital LLC Sells 3,385 Shares of Salesforce, Inc. (NYSE:CRM)

Abbrea Capital LLC cut its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,018 shares of the CRM provider's stock after selling 3,385 shares during the quarter. Salesforce comprises 1.8% of Abbrea Capital LLC's holdings, making the stock its 16th biggest position. Abbrea Capital LLC's holdings in Salesforce were worth $12,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new position in Salesforce in the 4th quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce during the fourth quarter worth approximately $31,000. Pacifica Partners Inc. boosted its stake in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider's stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter valued at $34,000. Finally, AlphaMark Advisors LLC lifted its holdings in shares of Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider's stock valued at $37,000 after buying an additional 125 shares during the period. Institutional investors own 80.43% of the company's stock.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 7,075 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now owns 38,483 shares of the company's stock, valued at approximately $11,903,561.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Amy E. Weaver sold 7,075 shares of the company's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the sale, the chief financial officer now directly owns 38,483 shares of the company's stock, valued at approximately $11,903,561.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The disclosure for this sale can be found here. Insiders sold 620,793 shares of company stock valued at $182,177,918 over the last quarter. Insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Oppenheimer boosted their price target on shares of Salesforce from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Monday, February 12th. TheStreet raised shares of Salesforce from a "c+" rating to a "b-" rating in a research note on Friday, January 19th. Wolfe Research restated an "outperform" rating and set a $365.00 target price on shares of Salesforce in a report on Tuesday, April 16th. Truist Financial reaffirmed a "buy" rating and issued a $360.00 price target (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, UBS Group raised their price objective on Salesforce from $285.00 to $310.00 and gave the stock a "neutral" rating in a research note on Friday, February 16th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $310.61.

Salesforce Stock Up 0.4 %

Shares of Salesforce stock traded up $1.07 during trading on Friday, hitting $274.21. 3,753,890 shares of the stock traded hands, compared to its average volume of 5,661,873. The company has a fifty day moving average price of $295.97 and a two-hundred day moving average price of $263.90. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71. The stock has a market cap of $265.98 billion, a P/E ratio of 65.29, a PEG ratio of 2.12 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion during the quarter, compared to analysts' expectations of $9.22 billion. During the same period in the previous year, the company earned $1.01 earnings per share. The company's revenue was up 10.8% compared to the same quarter last year. Equities research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce's dividend payout ratio (DPR) is currently 9.52%.

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.