OneAscent Financial Services LLC Increases Holdings in Salesforce, Inc. (NYSE:CRM)

OneAscent Financial Services LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 110.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,073 shares of the CRM provider’s stock after acquiring an additional 1,614 shares during the quarter. OneAscent Financial Services LLC’s holdings in Salesforce were worth $1,027,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CRM. Arlington Trust Co LLC raised its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the 4th quarter worth $30,000. Asset Planning Inc purchased a new position in shares of Salesforce in the fourth quarter worth $31,000. Collier Financial bought a new position in shares of Salesforce during the fourth quarter valued at $32,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Salesforce during the fourth quarter valued at $35,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Up 0.7 %

Shares of NYSE:CRM opened at $272.06 on Thursday. The company has a 50-day moving average price of $305.91 and a 200 day moving average price of $311.50. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $261.45 billion, a price-to-earnings ratio of 44.75, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,534,090. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,660 shares of company stock worth $14,095,336. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Morgan Stanley boosted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Barclays raised their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wedbush reiterated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.42.

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.