Fulton Breakefield Broenniman LLC Sells 1,902 Shares of Salesforce, Inc. (NYSE:CRM)

Fulton Breakefield Broenniman LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,280 shares of the CRM provider’s stock after selling 1,902 shares during the period. Salesforce makes up approximately 1.2% of Fulton Breakefield Broenniman LLC’s holdings, making the stock its 29th biggest position. Fulton Breakefield Broenniman LLC’s holdings in Salesforce were worth $16,499,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ruedi Wealth Management Inc. grew its holdings in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% during 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 last quarter. Red Tortoise LLC bought a new stake in shares of Salesforce in the 1st quarter worth $33,000. Clear Investment Research LLC raised its stake in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the second quarter valued at $33,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Up 0.9 %

CRM opened at $290.89 on Thursday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $265.00 and a two-hundred day simple moving average of $263.65. The company has a market capitalization of $281.87 billion, a PE ratio of 52.32, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

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

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. Bank of America reaffirmed a “buy” rating and issued a $325.00 target price on shares of Salesforce in a research report on Friday, September 6th. Loop Capital restated a “hold” rating and issued a $270.00 price target on shares of Salesforce in a research note on Thursday, September 19th. JPMorgan Chase & Co. upped their price objective on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $310.74.

Insider Buying and Selling at Salesforce

In related news, insider R David Schmaier sold 1,155 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $295,425.90. Following the completion of the transaction, the insider now owns 20,556 shares of the company’s stock, valued at approximately $5,257,813.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider R David Schmaier sold 1,155 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $295,425.90. Following the sale, the insider now owns 20,556 shares in the company, valued at approximately $5,257,813.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock worth $21,429,961 over the last 90 days. 3.20% of the stock is owned by insiders.

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.