Charter Research & Investment Group Inc. Has $2.69 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Charter Research & Investment Group Inc. decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,052 shares of the CRM provider’s stock after selling 50 shares during the period. Salesforce accounts for approximately 2.1% of Charter Research & Investment Group Inc.’s portfolio, making the stock its 15th biggest position. Charter Research & Investment Group Inc.’s holdings in Salesforce were worth $2,692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. United Bank lifted its stake in shares of Salesforce by 1.1% in the 3rd quarter. United Bank now owns 7,303 shares of the CRM provider’s stock valued at $1,999,000 after purchasing an additional 76 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its position in shares of Salesforce by 89.4% in the third quarter. Northwest & Ethical Investments L.P. now owns 1,710 shares of the CRM provider’s stock worth $468,000 after buying an additional 807 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Salesforce by 1.1% during the 3rd quarter. Captrust Financial Advisors now owns 52,069 shares of the CRM provider’s stock worth $14,252,000 after acquiring an additional 582 shares in the last quarter. White Knight Strategic Wealth Advisors LLC increased its holdings in shares of Salesforce by 3.0% during the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 1,382 shares of the CRM provider’s stock valued at $378,000 after acquiring an additional 40 shares during the last quarter. Finally, Southpoint Capital Advisors LP acquired a new stake in Salesforce in the 3rd quarter worth approximately $82,113,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRM. DA Davidson dropped their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Macquarie reiterated a “neutral” rating and issued a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. Wells Fargo & Company dropped their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Finally, Stephens started coverage on Salesforce in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,660 shares of company stock worth $14,095,336. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 2.8 %

Shares of NYSE CRM opened at $270.04 on Friday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a 50-day moving average of $309.39 and a two-hundred day moving average of $311.13. The company has a market cap of $259.51 billion, a PE ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

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

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.