Global Wealth Management Investment Advisory Inc. Has $1.65 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Global Wealth Management Investment Advisory Inc. cut its stake in Salesforce, Inc. (NYSE:CRM) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,264 shares of the CRM provider’s stock after selling 393 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Salesforce were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new position in Salesforce in the 4th quarter worth $26,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce in the 4th quarter worth $31,000. BKM Wealth Management LLC acquired a new position in Salesforce in the 4th quarter worth $34,000. Pacifica Partners Inc. boosted its stake in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the period. Finally, AlphaMark Advisors LLC boosted its stake in Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on CRM. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Bank of America boosted their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Canaccord Genuity Group reissued a “buy” rating and set a $350.00 price target on shares of Salesforce in a research report on Thursday, March 7th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Monday, April 15th. Finally, Wolfe Research reissued an “outperform” rating and set a $365.00 price target on shares of Salesforce in a research report on Tuesday, April 16th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Stock Performance

Shares of NYSE:CRM traded down $0.95 on Wednesday, reaching $267.99. 1,518,770 shares of the company’s stock were exchanged, compared to its average volume of 5,581,327. The company has a fifty day moving average of $295.34 and a 200-day moving average of $265.65. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71. The company has a market capitalization of $259.95 billion, a price-to-earnings ratio of 63.76, a PEG ratio of 2.12 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. Salesforce’s payout ratio is presently 9.52%.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $274.79, for a total transaction of $4,121,850.00. Following the sale, the chief executive officer now owns 12,737,327 shares of the company’s stock, valued at $3,500,090,086.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction on Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, April 29th. The stock was sold at an average price of $274.79, for a total transaction of $4,121,850.00. Following the transaction, the chief executive officer now owns 12,737,327 shares in the company, valued at approximately $3,500,090,086.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 610,793 shares of company stock valued at $179,074,618. 3.70% of the stock is currently owned by insiders.

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.