Adell Harriman & Carpenter Inc. Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Adell Harriman & Carpenter Inc. raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,697 shares of the CRM provider’s stock after purchasing an additional 893 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Salesforce were worth $11,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CRM. Marks Group Wealth Management Inc boosted its stake in Salesforce by 0.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after buying an additional 257 shares in the last quarter. Roman Butler Fullerton & Co. lifted its stake in Salesforce by 1.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after purchasing an additional 105 shares during the last quarter. Pure Financial Advisors LLC bought a new position in shares of Salesforce during the fourth quarter valued at about $214,000. Lone Pine Capital LLC increased its holdings in shares of Salesforce by 47.5% in the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after buying an additional 804,634 shares during the period. Finally, Vicus Capital boosted its holdings in Salesforce by 153.2% during the 3rd quarter. Vicus Capital now owns 2,575 shares of the CRM provider’s stock valued at $522,000 after acquiring an additional 1,558 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of CRM traded up $1.45 during trading hours on Monday, reaching $275.74. 3,577,112 shares of the stock traded hands, compared to its average volume of 5,637,127. Salesforce, Inc. has a 52-week low of $190.76 and a 52-week high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $267.47 billion, a P/E ratio of 65.27, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The company’s 50-day moving average price is $295.97 and its two-hundred day moving average price is $264.71.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s dividend payout ratio is currently 9.52%.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $282.95, for a total transaction of $4,244,250.00. Following the completion of the transaction, the chief executive officer now owns 13,626,166 shares in the company, valued at $3,855,523,669.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 2,890 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $893,934.80. Following the completion of the sale, the insider now directly owns 60,416 shares in the company, valued at $18,687,877.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $282.95, for a total transaction of $4,244,250.00. Following the sale, the chief executive officer now owns 13,626,166 shares of the company’s stock, valued at $3,855,523,669.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 595,793 shares of company stock valued at $175,070,968. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CRM. TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Piper Sandler reiterated a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday, April 15th. JMP Securities restated a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a report on Monday, April 15th. StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. boosted their price target on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

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.