OneAscent Wealth Management LLC Raises Stake in Salesforce, Inc. (NYSE:CRM)

OneAscent Wealth Management LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,220 shares of the CRM provider’s stock after buying an additional 87 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Salesforce were worth $408,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Foundations Investment Advisors LLC grew its position in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc purchased a new stake in Salesforce in the 3rd quarter valued at about $1,215,000. Athena Investment Management acquired a new position in shares of Salesforce during the 4th quarter valued at about $236,000. Highland Capital Management LLC purchased a new position in shares of Salesforce during the 4th quarter worth about $4,321,000. Finally, Geode Capital Management LLC boosted its position in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $270.04 on Friday. The stock’s 50 day simple moving average is $309.39 and its 200 day simple moving average is $310.68. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $259.51 billion, a P/E ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 25.16%.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now directly owns 29,190 shares in the company, valued at $8,416,644.60. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,660 shares of company stock valued at $14,095,336. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CRM. Robert W. Baird cut their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus dropped their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $362.74.

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.