Arbor Trust Wealth Advisors LLC Acquires 90 Shares of Salesforce, Inc. (NYSE:CRM)

Arbor Trust Wealth Advisors LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,292 shares of the CRM provider’s stock after acquiring an additional 90 shares during the quarter. Arbor Trust Wealth Advisors LLC’s holdings in Salesforce were worth $1,656,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Graypoint LLC grew its stake in Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after buying an additional 36 shares in the last quarter. Prentice Wealth Management LLC boosted its stake in shares of Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares in the last quarter. MV Capital Management Inc. boosted its stake in shares of Salesforce by 3.9% in the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock valued at $275,000 after purchasing an additional 39 shares in the last quarter. Legal Advantage Investments Inc. boosted its stake in shares of Salesforce by 0.7% in the 4th quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock valued at $1,466,000 after purchasing an additional 40 shares in the last quarter. Finally, Mayflower Financial Advisors LLC boosted its stake in shares of Salesforce by 1.2% in the 4th quarter. Mayflower Financial Advisors LLC now owns 3,411 shares of the CRM provider’s stock valued at $898,000 after purchasing an additional 41 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Up 1.7 %

NYSE CRM traded up $4.51 during mid-day trading on Tuesday, hitting $277.41. The company’s stock had a trading volume of 7,609,935 shares, compared to its average volume of 5,727,201. The company’s 50 day simple moving average is $298.52 and its 200 day simple moving average is $260.26. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month 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 firm has a market capitalization of $269.09 billion, a price-to-earnings ratio of 66.40, a PEG ratio of 2.26 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly 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. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. Analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

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

Wall Street Analyst Weigh In

CRM has been the topic of several recent research reports. Morgan Stanley upgraded shares of Salesforce from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $290.00 to $350.00 in a research report on Thursday, December 21st. Truist Financial reiterated a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Argus lifted their target price on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Bank of America raised their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $307.87.

Insiders Place Their Bets

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $284.11, for a total transaction of $2,841,100.00. Following the transaction, the insider now directly owns 60,976 shares of the company’s stock, valued at approximately $17,323,891.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $295.74, for a total value of $4,436,100.00. Following the transaction, the chief executive officer now directly owns 12,928,721 shares of the company’s stock, valued at approximately $3,823,539,948.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $284.11, for a total transaction of $2,841,100.00. Following the completion of the transaction, the insider now directly owns 60,976 shares in the company, valued at $17,323,891.36. The disclosure for this sale can be found here. Insiders have sold 897,375 shares of company stock valued at $260,206,096 in the last three months. 3.70% of the stock is currently owned by insiders.

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.