Abel Hall LLC Buys 52 Shares of Salesforce, Inc. (NYSE:CRM)

Abel Hall LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.3% in the third quarter, Holdings Channel.com reports. The firm owned 1,037 shares of the CRM provider’s stock after acquiring an additional 52 shares during the period. Abel Hall LLC’s holdings in Salesforce were worth $284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter worth about $27,000. Clear Investment Research LLC boosted its position in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Godsey & Gibb Inc. grew its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the second quarter valued at approximately $33,000. Finally, Stephens Consulting LLC raised its holdings in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $361.99 on Monday. The firm has a market cap of $346.42 billion, a PE ratio of 59.54, a price-to-earnings-growth ratio of 3.27 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average price is $309.97 and its two-hundred day moving average price is $272.80. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the business posted $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,982 shares of company stock worth $41,591,457. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent research reports. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Scotiabank upped their target price on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group upped their price target on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $372.86.

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.