Beaumont Financial Advisors LLC Has $797,000 Stake in Salesforce, Inc. (NYSE:CRM)

Beaumont Financial Advisors LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 18.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,384 shares of the CRM provider’s stock after acquiring an additional 364 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Salesforce were worth $797,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Veritas Asset Management LLP bought a new stake in Salesforce during the third quarter worth approximately $733,805,000. KBC Group NV boosted its holdings in shares of Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after buying an additional 1,032,068 shares during the period. International Assets Investment Management LLC grew its stake in Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after buying an additional 998,628 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Salesforce by 25.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after acquiring an additional 877,495 shares during the period. Finally, State Street Corp lifted its position in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction 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 approximately $1,888,236.38. The trade was a 7.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,171,198 shares of company stock valued at $401,945,558 over the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM opened at $332.67 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50 day simple moving average is $336.68 and its 200-day simple moving average is $292.92. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market capitalization of $318.37 billion, a P/E ratio of 54.72, a price-to-earnings-growth ratio of 2.93 and a beta of 1.30.

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

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid 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 (DPR) is presently 26.32%.

Analysts Set New Price Targets

CRM has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price objective on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Loop Capital lifted their price target on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Citigroup increased their price objective on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, BMO Capital Markets increased their price target on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

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.