Salesforce, Inc. (NYSE:CRM) Shares Purchased by AAFMAA Wealth Management & Trust LLC

AAFMAA Wealth Management & Trust LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 19.6% in the second quarter, Holdings Channel.com reports. The fund owned 7,933 shares of the CRM provider’s stock after buying an additional 1,301 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in Salesforce were worth $2,040,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CRM. Chase Investment Counsel Corp lifted its position in shares of Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after purchasing an additional 36 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in Salesforce by 11.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after buying an additional 36 shares during the period. Fox Hill Wealth Management increased its stake in Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its position in Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after buying an additional 38 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. boosted its stake in shares of Salesforce by 0.4% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 8,901 shares of the CRM provider’s stock valued at $2,342,000 after buying an additional 39 shares during the period. 80.43% of the stock is owned by institutional investors.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at approximately $29,932,595.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $285.00, for a total transaction of $4,275,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,482,327 shares of the company’s stock, valued at $3,557,463,195. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total value of $1,069,194.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $29,932,595.17. The disclosure for this sale can be found here. Insiders have sold a total of 172,136 shares of company stock worth $43,631,609 over the last 90 days. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRM. Citigroup cut their price objective on Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. BMO Capital Markets cut their price target on Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Mizuho lowered their price target on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and set a $350.00 price target on shares of Salesforce in a report on Friday, May 24th. Finally, DA Davidson decreased their price target on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $291.50.

Salesforce Price Performance

Shares of Salesforce stock traded up $2.42 during trading on Monday, reaching $265.33. The company’s stock had a trading volume of 4,499,699 shares, compared to its average volume of 6,601,361. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The stock has a 50-day moving average price of $249.47 and a two-hundred day moving average price of $272.87. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $257.10 billion, a P/E ratio of 47.73, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

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.