Salesforce, Inc. (NYSE:CRM) Announces Quarterly Dividend of $0.42

Salesforce, Inc. (NYSE:CRM) declared a quarterly dividend on Thursday, March 27th, RTT News reports. Investors of record on Thursday, April 10th will be paid a dividend of 0.42 per share by the CRM provider on Thursday, April 24th. This represents a $1.68 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, April 10th. This is a 5.0% increase from Salesforce’s previous quarterly dividend of $0.40.

Salesforce has a dividend payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Salesforce to earn $8.41 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 19.0%.

Salesforce Trading Down 2.8 %

Shares of NYSE CRM opened at $270.04 on Friday. Salesforce has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $309.39 and a two-hundred day moving average of $310.68. The company has a market cap of $259.51 billion, a PE ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Truist Financial reissued a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Robert W. Baird cut their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.74.

Insider Activity

In related news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Salesforce

An institutional investor recently raised its position in Salesforce stock. Revolve Wealth Partners LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 12.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,827 shares of the CRM provider’s stock after buying an additional 205 shares during the period. Revolve Wealth Partners LLC’s holdings in Salesforce were worth $611,000 at the end of the most recent quarter. Institutional investors own 80.43% of the company’s stock.

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.