L & S Advisors Inc Purchases 18,542 Shares of Salesforce, Inc. (NYSE:CRM)

L & S Advisors Inc lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 290.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,935 shares of the CRM provider’s stock after purchasing an additional 18,542 shares during the period. Salesforce accounts for approximately 0.9% of L & S Advisors Inc’s portfolio, making the stock its 28th biggest holding. L & S Advisors Inc’s holdings in Salesforce were worth $8,337,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Okabena Investment Services Inc. boosted its position in shares of Salesforce by 14.2% in the fourth quarter. Okabena Investment Services Inc. now owns 8,013 shares of the CRM provider’s stock valued at $2,679,000 after acquiring an additional 994 shares during the period. Allianz SE bought a new stake in Salesforce in the 4th quarter valued at $18,972,000. Intrust Bank NA grew its position in Salesforce by 1.2% in the 4th quarter. Intrust Bank NA now owns 7,174 shares of the CRM provider’s stock worth $2,398,000 after purchasing an additional 85 shares during the last quarter. OneAscent Wealth Management LLC increased its holdings in shares of Salesforce by 7.7% during the 4th quarter. OneAscent Wealth Management LLC now owns 1,220 shares of the CRM provider’s stock worth $408,000 after purchasing an additional 87 shares during the period. Finally, Allstate Corp raised its position in shares of Salesforce by 3,301.4% during the fourth quarter. Allstate Corp now owns 28,368 shares of the CRM provider’s stock valued at $9,484,000 after buying an additional 27,534 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $270.04 on Friday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month 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 market capitalization of $259.51 billion, a PE ratio of 44.42, a PEG ratio of 2.58 and a beta of 1.35. The stock’s fifty day simple moving average is $309.39 and its 200 day simple moving average is $310.68.

Salesforce Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Macquarie reissued a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Morgan Stanley lifted their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Guggenheim restated a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Stifel Nicolaus lowered their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $362.74.

Insider Activity

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the transaction, the insider now owns 29,190 shares in the company, valued at approximately $8,416,644.60. This represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 over the last quarter. 3.20% of the stock is currently owned by company insiders.

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.