Beacon Investment Advisory Services Inc. Decreases Position in Salesforce, Inc. (NYSE:CRM)

Beacon Investment Advisory Services Inc. decreased its position in Salesforce, Inc. (NYSE:CRM) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,022 shares of the CRM provider’s stock after selling 1,184 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Salesforce were worth $8,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Piscataqua Savings Bank grew its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the 3rd quarter worth about $27,000. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the 2nd quarter worth about $33,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Down 0.0 %

Shares of Salesforce stock opened at $329.99 on Monday. 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 company has a 50-day moving average of $302.12 and a two-hundred day moving average of $270.49. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. The stock has a market cap of $315.47 billion, a PE ratio of 57.39, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price target on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Citigroup lifted their price target on shares of Salesforce from $290.00 to $368.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Finally, Sanford C. Bernstein lifted their price target on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $341.89.

Insiders Place Their Bets

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. This trade represents a 75.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 144,510 shares of company stock valued at $42,475,538. Company insiders own 3.20% of the company’s stock.

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.