Wealth Alliance Advisory Group LLC Trims Stock Position in Salesforce, Inc. (NYSE:CRM)

Wealth Alliance Advisory Group LLC decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 1.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,465 shares of the CRM provider’s stock after selling 44 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Salesforce were worth $948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. grew its position in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank grew its holdings in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the period. Red Tortoise LLC purchased a new stake in Salesforce in the first quarter worth about $33,000. Clear Investment Research LLC raised its stake in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the 2nd quarter worth approximately $33,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRM has been the topic of a number of analyst reports. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Phillip Securities reiterated an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Loop Capital reissued a “hold” rating and issued a $270.00 price target on shares of Salesforce in a report on Thursday, September 19th. UBS Group increased their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Evercore ISI reissued an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $311.66.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,612 shares of company stock worth $21,429,961. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.6 %

Shares of NYSE CRM opened at $292.94 on Friday. The firm has a 50-day simple moving average of $266.65 and a two-hundred day simple moving average of $263.49. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $283.86 billion, a P/E ratio of 52.69, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.63 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

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.