Gilliland Jeter Wealth Management LLC Makes New $3.53 Million Investment in Salesforce, Inc. (NYSE:CRM)

Gilliland Jeter Wealth Management LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, HoldingsChannel reports. The firm purchased 13,405 shares of the CRM provider’s stock, valued at approximately $3,527,000. Salesforce accounts for about 1.5% of Gilliland Jeter Wealth Management LLC’s portfolio, making the stock its 13th biggest position.

A number of other institutional investors have also made changes to their positions in the business. Bear Mountain Capital Inc. acquired a new stake in Salesforce in the 4th quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce in the fourth quarter worth $31,000. BKM Wealth Management LLC bought a new position in Salesforce during the fourth quarter worth $34,000. Pacifica Partners Inc. raised its stake in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its stake in Salesforce by 892.9% during the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Up 0.4 %

NYSE:CRM traded up $1.15 on Friday, hitting $274.29. 3,754,585 shares of the stock were exchanged, compared to its average volume of 5,162,527. The stock has a market capitalization of $266.06 billion, a price-to-earnings ratio of 65.31, a P/E/G ratio of 2.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 52 week low of $190.76 and a 52 week high of $318.71. The company’s 50-day moving average price is $295.97 and its 200 day moving average price is $264.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CRM. Evercore ISI boosted their price objective on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Argus upped their price target on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Wells Fargo & Company raised their price objective on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Citigroup boosted their price objective on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Insider Activity

In related news, CFO Amy E. Weaver sold 7,075 shares of Salesforce stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the sale, the chief financial officer now owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $276.65, for a total value of $4,149,750.00. Following the completion of the transaction, the chief executive officer now directly owns 12,782,327 shares of the company’s stock, valued at $3,536,230,764.55. The disclosure for this sale can be found here. Insiders sold a total of 620,793 shares of company stock valued at $182,177,918 in the last ninety days. 3.70% of the stock is owned by insiders.

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.