Phillips Wealth Planners LLC Has $642,000 Stake in Salesforce, Inc. (NYSE:CRM)

Phillips Wealth Planners LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 7.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,020 shares of the CRM provider’s stock after purchasing an additional 134 shares during the period. Phillips Wealth Planners LLC’s holdings in Salesforce were worth $642,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the 3rd quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the 2nd quarter valued at $33,000. Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC increased its stake in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new stake in Salesforce during the 3rd quarter valued at $53,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 1.8 %

CRM stock opened at $332.67 on Thursday. 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’s 50 day moving average is $336.68 and its 200 day moving average is $292.92. The stock has a market cap of $318.37 billion, a price-to-earnings ratio of 54.72, a price-to-earnings-growth ratio of 2.93 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup boosted their price target on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Robert W. Baird boosted their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a research note on Monday, January 6th. Finally, Jefferies Financial Group upped their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,171,198 shares of company stock worth $401,945,558. Insiders own 3.20% of the company’s stock.

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.