Arbor Trust Wealth Advisors LLC Purchases 407 Shares of Salesforce, Inc. (NYSE:CRM)

Arbor Trust Wealth Advisors LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,949 shares of the CRM provider’s stock after acquiring an additional 407 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Salesforce were worth $2,326,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its position in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares during the period. Geode Capital Management LLC raised its stake in Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC lifted its position in Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after purchasing an additional 314,530 shares during the period. Legal & General Group Plc grew its stake in Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after buying an additional 176,641 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $324.77 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. The firm has a 50-day moving average of $337.31 and a 200-day moving average of $291.56. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last released its 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). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Northland Securities reiterated an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Loop Capital upped their price objective on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total value of $1,785,149.75. Following the sale, the chief operating officer now directly owns 969 shares of the company’s stock, valued at approximately $280,767.75. This trade represents a 86.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is owned by corporate insiders.

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.