Hemenway Trust Co LLC Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Hemenway Trust Co LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 712.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,897 shares of the CRM provider’s stock after buying an additional 19,202 shares during the period. Hemenway Trust Co LLC’s holdings in Salesforce were worth $7,321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. Nvest Financial LLC grew its position in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its stake in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC grew its holdings in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after buying an additional 31 shares in the last quarter. Sachetta LLC increased its position in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC increased its position in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after buying an additional 32 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent analyst reports. Redburn Atlantic began coverage on shares of Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. JMP Securities restated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Citigroup reaffirmed a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Wells Fargo & Company dropped their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Finally, Jefferies Financial Group reduced their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $361.42.

Salesforce Trading Down 5.9 %

CRM opened at $240.26 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market cap of $230.89 billion, a PE ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38. The business has a 50 day moving average of $302.46 and a 200-day moving average of $311.00.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Oscar Munoz purchased 3,882 shares of Salesforce stock in a transaction dated Thursday, April 3rd. The shares were bought at an average price of $257.28 per share, with a total value of $998,760.96. Following the completion of the acquisition, the director now directly owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. This represents a 48.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 in the last three months. 3.20% of the stock is currently owned by company insiders.

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.