Pinnacle Wealth Management Advisory Group LLC Boosts Stock Position in Salesforce, Inc. (NYSE:CRM)

Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,933 shares of the CRM provider’s stock after purchasing an additional 117 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Salesforce were worth $772,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bear Mountain Capital Inc. bought a new stake in Salesforce in the fourth quarter valued at $26,000. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce during the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new position in Salesforce in the fourth quarter worth about $31,000. Pacifica Partners Inc. lifted its holdings in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares during the period. Finally, BKM Wealth Management LLC bought a new stake in Salesforce during the 4th quarter valued at approximately $34,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of CRM stock traded up $1.67 on Wednesday, hitting $278.85. 3,282,396 shares of the stock traded hands, compared to its average volume of 5,499,356. 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 52 week low of $193.68 and a 52 week high of $318.71. The firm has a 50 day simple moving average of $293.29 and a two-hundred day simple moving average of $267.99. The firm has a market cap of $269.93 billion, a price-to-earnings ratio of 66.39, a PEG ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Brian Millham sold 24,453 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders sold a total of 624,193 shares of company stock worth $182,212,898 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CRM. JPMorgan Chase & Co. lifted their price target on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Oppenheimer upped their price objective on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. KeyCorp started coverage on Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Monday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

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.