Opes Wealth Management LLC Sells 46 Shares of Salesforce, Inc. (NYSE:CRM)

Opes Wealth Management LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,270 shares of the CRM provider’s stock after selling 46 shares during the quarter. Opes Wealth Management LLC’s holdings in Salesforce were worth $425,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter worth $27,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in Salesforce in the fourth quarter worth $30,000. Asset Planning Inc purchased a new position in Salesforce in the fourth quarter worth $31,000. Finally, Collier Financial purchased a new position in Salesforce in the fourth quarter worth $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.3 %

Shares of NYSE CRM opened at $325.49 on Friday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock has a market cap of $311.49 billion, a PE ratio of 53.53, a P/E/G ratio of 2.66 and a beta of 1.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $336.56 and a 200 day moving average of $302.79.

Salesforce (NYSE:CRM) last posted its quarterly 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the company earned $1.62 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Activity

In other news, insider Parker Harris sold 652 shares of the company’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 value of $216,646.56. Following the transaction, the insider now directly owns 121,467 shares in the company, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’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 transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % 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 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Scotiabank boosted their price objective on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Bank of America boosted their price objective on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Truist Financial reissued a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group boosted their target price 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. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

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.