Armstrong Advisory Group Inc. Grows Stock Position in Salesforce, Inc. (NYSE:CRM)

Armstrong Advisory Group Inc. boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 28.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 343 shares of the CRM provider’s stock after acquiring an additional 77 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Salesforce were worth $115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CHURCHILL MANAGEMENT Corp bought a new stake in Salesforce during the 4th quarter valued at $10,931,000. Brendel Financial Advisors LLC purchased a new position in shares of Salesforce in the fourth quarter valued at about $2,084,000. Moseley Investment Management Inc. raised its stake in shares of Salesforce by 29.4% during the fourth quarter. Moseley Investment Management Inc. now owns 3,524 shares of the CRM provider’s stock valued at $1,178,000 after acquiring an additional 801 shares during the last quarter. Acropolis Investment Management LLC purchased a new stake in shares of Salesforce during the fourth quarter worth about $122,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Salesforce by 186.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,420 shares of the CRM provider’s stock worth $475,000 after purchasing an additional 924 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of NYSE CRM opened at $320.99 on Friday. The firm’s 50-day moving average price is $337.05 and its 200-day moving average price is $290.87. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a market cap of $307.18 billion, a PE ratio of 52.79, a PEG ratio of 2.87 and a beta of 1.30. 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 (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 EPS. As a group, analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Macquarie reiterated a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Cfra set a $343.00 price target on shares of Salesforce in a report on Thursday, October 17th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, JMP Securities reissued a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $376.05.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now owns 19,116 shares in the company, valued at $6,575,904. This trade represents a 8.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,183,838 shares of company stock worth $405,595,158 in the last three months. 3.20% of the stock is currently owned by company 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.