Xcel Wealth Management LLC Sells 40 Shares of Salesforce, Inc. (NYSE:CRM)

Xcel Wealth Management LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 2,455 shares of the CRM provider’s stock after selling 40 shares during the quarter. Xcel Wealth Management LLC’s holdings in Salesforce were worth $821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JFS Wealth Advisors LLC raised its position in shares of Salesforce by 27.4% in the 3rd quarter. JFS Wealth Advisors LLC now owns 512 shares of the CRM provider’s stock worth $140,000 after acquiring an additional 110 shares in the last quarter. Financial Advocates Investment Management raised its position in shares of Salesforce by 1.4% in the 3rd quarter. Financial Advocates Investment Management now owns 8,968 shares of the CRM provider’s stock worth $2,455,000 after acquiring an additional 120 shares in the last quarter. HM Payson & Co. raised its position in shares of Salesforce by 1.9% in the 3rd quarter. HM Payson & Co. now owns 4,112 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 76 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC raised its position in shares of Salesforce by 12.6% in the 3rd quarter. Baron Silver Stevens Financial Advisors LLC now owns 891 shares of the CRM provider’s stock worth $244,000 after acquiring an additional 100 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new position in shares of Salesforce in the 3rd quarter worth approximately $78,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock opened at $297.63 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock’s fifty day moving average is $329.11 and its 200 day moving average is $307.21. The stock has a market cap of $284.83 billion, a P/E ratio of 48.95, a P/E/G ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last announced its 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 return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business posted $1.62 earnings per share. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRM shares. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Morgan Stanley upped their price target on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Northland Securities restated an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research note on Thursday. Finally, The Goldman Sachs Group upped their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

Insider Buying and Selling

In related news, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,102,572 shares of company stock valued at $381,283,706. 3.20% of the stock is owned by company insiders.

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.