Armstrong Advisory Group Inc. Purchases 99 Shares of Salesforce, Inc. (NYSE:CRM)

Armstrong Advisory Group Inc. increased its position in Salesforce, Inc. (NYSE:CRM) by 54.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 281 shares of the CRM provider’s stock after acquiring an additional 99 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Salesforce were worth $74,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Union Savings Bank acquired a new position in Salesforce during the 2nd quarter valued at $27,000. BKM Wealth Management LLC acquired a new stake in Salesforce during the fourth quarter worth about $34,000. Pacifica Partners Inc. increased its stake in Salesforce by 333.3% during 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 during the period. Peoples Bank KS acquired a new position in Salesforce in the 3rd quarter valued at approximately $39,000. Finally, Quarry LP acquired a new stake in shares of Salesforce during the 2nd quarter worth approximately $41,000. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Brian Millham sold 293,965 shares of Salesforce stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $280.00, for a total value of $82,310,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at $799,618.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brian Millham sold 293,965 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total value of $82,310,200.00. The disclosure for this sale can be found here. Insiders have sold 1,141,620 shares of company stock worth $319,126,842 over the last ninety days. Insiders own 3.70% of the company’s stock.

Salesforce Trading Up 0.1 %

NYSE:CRM traded up $0.44 during mid-day trading on Tuesday, hitting $306.50. The company had a trading volume of 885,591 shares, compared to its average volume of 5,759,814. The firm has a market cap of $297.31 billion, a P/E ratio of 72.85, a P/E/G ratio of 2.37 and a beta of 1.28. Salesforce, Inc. has a fifty-two week low of $187.31 and a fifty-two week high of $318.71. The business’s fifty day moving average is $292.17 and its two-hundred day moving average is $250.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

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

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CRM shares. Robert W. Baird lifted their price target on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Wells Fargo & Company increased their price target on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Needham & Company LLC upped their price target on Salesforce from $275.00 to $345.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Stifel Nicolaus lifted their price objective on Salesforce from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. 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 company. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $304.32.

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.