Beaumont Asset Management L.L.C. Reduces Holdings in Salesforce, Inc. (NYSE:CRM)

Beaumont Asset Management L.L.C. lowered its position in Salesforce, Inc. (NYSE:CRM) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,626 shares of the CRM provider’s stock after selling 181 shares during the period. Salesforce accounts for approximately 1.5% of Beaumont Asset Management L.L.C.’s portfolio, making the stock its 14th biggest holding. Beaumont Asset Management L.L.C.’s holdings in Salesforce were worth $2,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the third quarter worth about $27,000. Godsey & Gibb Inc. lifted its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC boosted its holdings in shares of Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Salesforce in the third quarter valued at approximately $53,000. Finally, Friedenthal Financial acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,111,420 shares of company stock valued at $384,366,700 over the last ninety days. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CRM shares. JPMorgan Chase & Co. boosted their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group boosted their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Citigroup raised their price objective on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley boosted their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Loop Capital raised their price target on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Down 1.5 %

Shares of NYSE CRM opened at $325.81 on Friday. The business has a 50-day moving average of $339.05 and a two-hundred day moving average of $299.87. The company has a market capitalization of $311.80 billion, a price-to-earnings ratio of 53.59, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. 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 posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 EPS. On average, analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

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.