KMG Fiduciary Partners LLC Has $8.24 Million Position in Salesforce, Inc. (NYSE:CRM)

KMG Fiduciary Partners LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,648 shares of the CRM provider’s stock after buying an additional 549 shares during the period. KMG Fiduciary Partners LLC’s holdings in Salesforce were worth $8,240,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the second quarter worth approximately $33,000. Godsey & Gibb Inc. increased its position in 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 buying an additional 90 shares during the period. Annapolis Financial Services LLC increased its position in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the period. Finally, FSA Wealth Management LLC acquired a new stake in shares of Salesforce in the third quarter valued at approximately $53,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the sale, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,229,213.48. The trade was a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,183,838 shares of company stock valued at $405,595,158 over the last ninety days. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CRM shares. Wells Fargo & Company upped their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Barclays upped their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Loop Capital raised their target price on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC boosted their price objective on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Stock Performance

Shares of Salesforce stock opened at $320.99 on Friday. The business’s fifty day simple moving average is $337.05 and its 200-day simple moving average is $290.87. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $307.18 billion, a PE ratio of 52.79, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (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 business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the company earned $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s dividend payout ratio is presently 26.32%.

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.