Vanguard Capital Wealth Advisors Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Vanguard Capital Wealth Advisors purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,251 shares of the CRM provider’s stock, valued at approximately $322,000.

Other large investors have also modified their holdings of the company. Spartan Planning & Wealth Management raised its holdings in shares of Salesforce by 66.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after purchasing an additional 625 shares in the last quarter. Parnassus Investments LLC grew its position in Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after purchasing an additional 18,397 shares during the last quarter. TD Asset Management Inc grew its position in Salesforce by 32.6% during the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after purchasing an additional 194,224 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Salesforce by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after purchasing an additional 95 shares during the last quarter. Finally, M&G Plc purchased a new stake in Salesforce during the 1st quarter worth approximately $2,178,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, Director Oscar Munoz bought 2,051 shares of Salesforce stock in a transaction dated Friday, June 21st. The stock was acquired at an average cost of $243.69 per share, for a total transaction of $499,808.19. Following the completion of the transaction, the director now directly owns 7,026 shares of the company’s stock, valued at $1,712,165.94. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Oscar Munoz acquired 2,051 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was purchased at an average cost of $243.69 per share, for a total transaction of $499,808.19. Following the completion of the transaction, the director now owns 7,026 shares in the company, valued at $1,712,165.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 3,528 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total transaction of $884,081.52. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at $29,464,622.79. The disclosure for this sale can be found here. Insiders sold 59,892 shares of company stock worth $15,269,897 over the last three months. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several research analyst reports. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Oppenheimer boosted their target price on shares of Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Finally, Robert W. Baird upped their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $304.41.

Salesforce Stock Performance

NYSE:CRM opened at $249.57 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a fifty day moving average of $253.88 and a two-hundred day moving average of $268.78. The stock has a market capitalization of $241.83 billion, a PE ratio of 44.89, a P/E/G ratio of 2.21 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 earnings per share. As a group, research analysts forecast that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

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.