Physician Wealth Advisors Inc. Takes Position in Salesforce, Inc. (NYSE:CRM)

Physician Wealth Advisors Inc. purchased a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 423 shares of the CRM provider’s stock, valued at approximately $141,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc purchased a new stake in Salesforce in the fourth quarter worth about $31,000. Collier Financial bought a new position in shares of Salesforce during the fourth quarter valued at approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $35,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Down 2.8 %

Shares of CRM stock opened at $270.04 on Monday. The company has a market capitalization of $259.51 billion, a price-to-earnings ratio of 44.42, a PEG ratio of 2.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company’s fifty day moving average price is $309.39 and its 200-day moving average price is $311.57. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 652 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the transaction, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock valued at $14,095,336 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Oppenheimer reduced their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Finally, Stephens began coverage on shares of Salesforce in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

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.