Tallon Kerry Patrick Makes New $236,000 Investment in Salesforce, Inc. (NYSE:CRM)

Tallon Kerry Patrick bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 714 shares of the CRM provider’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mirador Capital Partners LP raised its holdings in shares of Salesforce by 14.0% in the 4th quarter. Mirador Capital Partners LP now owns 3,911 shares of the CRM provider’s stock valued at $1,308,000 after purchasing an additional 481 shares in the last quarter. Cordant Inc. acquired a new stake in shares of Salesforce in the 4th quarter valued at $64,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Salesforce by 4.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 16,477 shares of the CRM provider’s stock valued at $5,509,000 after purchasing an additional 769 shares in the last quarter. Winch Advisory Services LLC raised its holdings in shares of Salesforce by 1.3% in the 4th quarter. Winch Advisory Services LLC now owns 12,970 shares of the CRM provider’s stock valued at $4,336,000 after purchasing an additional 163 shares in the last quarter. Finally, RMR Wealth Builders raised its holdings in shares of Salesforce by 5.7% in the 4th quarter. RMR Wealth Builders now owns 8,210 shares of the CRM provider’s stock valued at $2,745,000 after purchasing an additional 440 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 0.1 %

Shares of NYSE CRM opened at $320.99 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a 50-day moving average price of $337.05 and a 200 day moving average price of $290.87. The stock has a market capitalization of $307.18 billion, a price-to-earnings ratio of 52.79, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Truist Financial restated a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $415.00 target price (up from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Bank of America increased their target price on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Jefferies Financial Group increased their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $376.05.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the completion of the transaction, the chief operating officer now owns 969 shares in the company, valued at approximately $280,767.75. The trade was a 86.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock worth $405,595,158 over the last 90 days. Company insiders own 3.20% 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.