Shorepoint Capital Partners LLC Has $2.90 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Shorepoint Capital Partners LLC lifted its stake in Salesforce, Inc. (NYSE:CRM) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,665 shares of the CRM provider’s stock after buying an additional 261 shares during the period. Shorepoint Capital Partners LLC’s holdings in Salesforce were worth $2,897,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Invst LLC increased its stake in shares of Salesforce by 4.2% in the 3rd quarter. Invst LLC now owns 17,003 shares of the CRM provider’s stock valued at $4,654,000 after buying an additional 685 shares during the period. Passumpsic Savings Bank boosted its holdings in Salesforce by 1.2% in the third quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider’s stock valued at $2,007,000 after acquiring an additional 87 shares during the last quarter. Anchor Investment Management LLC increased its position in Salesforce by 15.7% in the third quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider’s stock worth $1,174,000 after purchasing an additional 581 shares during the period. Pine Valley Investments Ltd Liability Co raised its holdings in Salesforce by 14.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider’s stock worth $1,930,000 after purchasing an additional 866 shares during the last quarter. Finally, World Investment Advisors LLC lifted its position in Salesforce by 570.4% during the 3rd quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider’s stock valued at $14,903,000 after purchasing an additional 46,324 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 1.2 %

Shares of CRM opened at $267.87 on Friday. The business’s 50 day simple moving average is $273.75 and its 200-day simple moving average is $308.41. 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 market capitalization of $257.42 billion, a price-to-earnings ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is presently 26.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley reduced their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird reduced their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Oppenheimer decreased their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Cantor Fitzgerald assumed coverage on shares of Salesforce in a research report on Wednesday. They issued an “overweight” rating and a $210.00 price target on the stock. Finally, Macquarie restated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $351.37.

Insiders Place Their Bets

In other news, CEO Brian Millham sold 979 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total transaction of $248,333.14. Following the completion of the sale, the chief executive officer now owns 6,487 shares in the company, valued at approximately $1,645,492.42. This represents a 13.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Miguel Milano sold 458 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,051 shares of company stock worth $15,027,714 over the last 90 days. Company insiders own 3.20% of the company’s stock.

About Salesforce

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.