Grant Private Wealth Management Inc Takes $1.21 Million Position in Salesforce, Inc. (NYSE:CRM)

Grant Private Wealth Management Inc purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,622 shares of the CRM provider’s stock, valued at approximately $1,211,000. Salesforce comprises approximately 1.3% of Grant Private Wealth Management Inc’s portfolio, making the stock its 22nd largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRM. Nvest Financial LLC boosted its stake in shares of Salesforce by 1.1% during 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 during the period. OMC Financial Services LTD lifted its holdings in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in Salesforce by 4.1% in 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 during the period. Sachetta LLC boosted its position in Salesforce by 0.3% in the 4th 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 grew its stake in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Up 0.7 %

Salesforce stock opened at $272.06 on Thursday. The stock has a 50-day moving average price of $305.91 and a 200 day moving average price of $311.50. The company has a market capitalization of $261.45 billion, a price-to-earnings ratio of 44.75, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. 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.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.62%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Scotiabank lowered their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Stephens assumed coverage on Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target on the stock. Citigroup restated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Wells Fargo & Company dropped their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were 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. This represents a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 652 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the transaction, the insider now owns 121,467 shares of the company’s stock, valued at $40,361,054.76. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 in the last ninety days. Insiders own 3.20% of the company’s stock.

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.