Oak Harbor Wealth Partners LLC Has $2.55 Million Stake in Salesforce, Inc. (NYSE:CRM)

Oak Harbor Wealth Partners LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 4.8% during the third quarter, Holdings Channel.com reports. The firm owned 9,327 shares of the CRM provider’s stock after buying an additional 424 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Salesforce were worth $2,553,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Piscataqua Savings Bank increased its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the period. Clear Investment Research LLC increased its holdings in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Godsey & Gibb Inc. increased its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the second quarter worth approximately $33,000. Finally, Stephens Consulting LLC increased its holdings in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRM. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price objective on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Roth Mkm restated a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Wedbush increased their price objective on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company upped their target price on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $320.23.

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $30,920,275.57. This trade represents a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,373 shares of company stock worth $41,250,680. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Salesforce stock opened at $331.56 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a fifty day moving average price of $283.28 and a two-hundred day moving average price of $265.84. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The firm has a market capitalization of $316.97 billion, a P/E ratio of 57.66, a P/E/G ratio of 3.09 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the company posted $1.63 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

About Salesforce

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.