Wealth Dimensions Group Ltd. Sells 50 Shares of Salesforce, Inc. (NYSE:CRM)

Wealth Dimensions Group Ltd. lessened its stake in Salesforce, Inc. (NYSE:CRM) by 3.9% in the third quarter, Holdings Channel reports. The firm owned 1,222 shares of the CRM provider’s stock after selling 50 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in Salesforce were worth $335,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC lifted its position in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC raised its stake in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares in the last quarter. AIA Group Ltd lifted its holdings in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the last quarter. Harvest Portfolios Group Inc. boosted its stake in shares of Salesforce by 13.6% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after purchasing an additional 10,656 shares in the last quarter. Finally, XN LP grew its holdings in shares of Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after purchasing an additional 90,616 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,991 shares of company stock valued at $43,333,238. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CRM shares. Phillip Securities reissued an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th. Oppenheimer restated an “outperform” rating and set a $385.00 price objective (up previously from $330.00) on shares of Salesforce in a research report on Thursday. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Morgan Stanley raised their target price on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird raised their price target on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $336.37.

Salesforce Price Performance

Shares of NYSE:CRM opened at $342.02 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market cap of $326.97 billion, a PE ratio of 59.48, a price-to-earnings-growth ratio of 3.04 and a beta of 1.29. The stock’s fifty day simple moving average is $294.61 and its two-hundred day simple moving average is $268.60. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the firm earned $1.63 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

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.