Capital Wealth Planning LLC Has $2.76 Million Stake in Salesforce, Inc. (NYSE:CRM)

Capital Wealth Planning LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,743 shares of the CRM provider’s stock after buying an additional 312 shares during the period. Capital Wealth Planning LLC’s holdings in Salesforce were worth $2,762,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CRM. Fox Hill Wealth Management lifted its position in shares of Salesforce by 4.0% during the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after acquiring an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after acquiring an additional 38 shares during the period. Glassman Wealth Services lifted its position in shares of Salesforce by 2.9% during the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock valued at $360,000 after acquiring an additional 39 shares during the period. Blue Barn Wealth LLC lifted its position in shares of Salesforce by 1.8% during the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after acquiring an additional 39 shares during the period. Finally, Catalyst Financial Partners LLC lifted its position in shares of Salesforce by 0.8% during the 2nd quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after acquiring an additional 39 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the sale, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,376 shares of company stock valued at $15,878,005. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 0.5 %

Shares of Salesforce stock opened at $254.57 on Monday. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a market cap of $246.68 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 2.26 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $253.56 and its 200-day moving average price is $267.91.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the firm posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. Jefferies Financial Group lowered their price objective on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. DA Davidson upped their price objective on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. TD Cowen upped their price objective on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Erste Group Bank restated a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Finally, JMP Securities restated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $305.55.

Salesforce 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.