IHT Wealth Management LLC Lowers Position in Salesforce, Inc. (NYSE:CRM)

IHT Wealth Management LLC lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 23.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,124 shares of the CRM provider’s stock after selling 3,415 shares during the period. IHT Wealth Management LLC’s holdings in Salesforce were worth $3,719,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Canal Capital Management LLC grew its stake in Salesforce by 1.4% in the 4th quarter. Canal Capital Management LLC now owns 13,752 shares of the CRM provider’s stock worth $4,598,000 after buying an additional 184 shares in the last quarter. J. Safra Sarasin Holding AG lifted its holdings in shares of Salesforce by 15.9% during the 4th quarter. J. Safra Sarasin Holding AG now owns 44,340 shares of the CRM provider’s stock worth $14,826,000 after acquiring an additional 6,095 shares during the last quarter. Stifel Financial Corp grew its position in Salesforce by 3.9% in the fourth quarter. Stifel Financial Corp now owns 1,245,383 shares of the CRM provider’s stock worth $416,403,000 after acquiring an additional 46,498 shares in the last quarter. Wealth Dimensions Group Ltd. increased its stake in Salesforce by 4.3% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 1,274 shares of the CRM provider’s stock valued at $426,000 after acquiring an additional 52 shares during the last quarter. Finally, TFJ Management LLC purchased a new stake in Salesforce during the fourth quarter valued at about $5,871,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM opened at $236.05 on Tuesday. The firm has a market cap of $226.84 billion, a PE ratio of 38.82, a P/E/G ratio of 2.58 and a beta of 1.38. 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, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a 50-day moving average price of $279.43 and a 200-day moving average price of $309.44.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.71%. Salesforce’s dividend payout ratio is presently 26.10%.

Insider Buying and Selling

In other news, insider Parker Harris sold 652 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the transaction, the insider now directly owns 121,467 shares of the company’s stock, valued at $40,361,054.76. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,654 shares of company stock worth $14,124,094 in the last three months. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several recent research reports. Loop Capital reduced their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Jefferies Financial Group reduced their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating in a research note on Monday. Finally, Macquarie reiterated a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $358.97.

Salesforce Company 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.