Avior Wealth Management LLC Has $4.80 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Avior Wealth Management LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,246 shares of the CRM provider’s stock after purchasing an additional 438 shares during the period. Avior Wealth Management LLC’s holdings in Salesforce were worth $4,801,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bear Mountain Capital Inc. bought a new stake in Salesforce during the 4th quarter worth approximately $26,000. Pacifica Partners Inc. grew its holdings in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at approximately $34,000. GHP Investment Advisors Inc. grew its holdings in shares of Salesforce by 30.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after acquiring an additional 63 shares in the last quarter. Finally, Live Oak Investment Partners bought a new position in shares of Salesforce in the fourth quarter valued at approximately $36,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Salesforce stock traded up $4.51 during mid-day trading on Tuesday, reaching $277.41. 7,623,553 shares of the stock traded hands, compared to its average volume of 5,727,201. The stock has a market capitalization of $269.08 billion, a PE ratio of 66.40, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71. The business’s 50-day moving average is $298.52 and its 200-day moving average is $260.26.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CRM shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $350.00 target price on shares of Salesforce in a report on Thursday, March 7th. Stifel Nicolaus restated a “buy” rating and set a $350.00 target price on shares of Salesforce in a research report on Wednesday, April 3rd. JMP Securities reiterated a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research report on Monday. Citigroup increased their price objective on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $274.01, for a total value of $4,110,150.00. Following the completion of the sale, the chief executive officer now directly owns 13,761,166 shares of the company’s stock, valued at approximately $3,770,697,095.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $274.01, for a total transaction of $4,110,150.00. Following the transaction, the chief executive officer now directly owns 13,761,166 shares in the company, valued at approximately $3,770,697,095.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Srinivas Tallapragada sold 2,890 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $893,934.80. Following the transaction, the insider now owns 60,416 shares in the company, valued at $18,687,877.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 897,375 shares of company stock valued at $260,206,096. Insiders own 3.70% of the company’s stock.

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.