Talbot Financial LLC Has $17.48 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Talbot Financial LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,861 shares of the CRM provider’s stock after acquiring an additional 2,254 shares during the quarter. Salesforce accounts for approximately 2.1% of Talbot Financial LLC’s investment portfolio, making the stock its 12th biggest position. Talbot Financial LLC’s holdings in Salesforce were worth $17,480,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CRM. Prentice Wealth Management LLC grew its stake in Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after acquiring an additional 37 shares during the period. Fox Hill Wealth Management grew its position in Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after purchasing an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. increased its stake in Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after purchasing an additional 38 shares in the last quarter. Fulton Bank N.A. raised its holdings in Salesforce by 0.4% during the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after buying an additional 38 shares during the last quarter. Finally, Blue Barn Wealth LLC lifted its stake in shares of Salesforce by 1.8% in the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after buying an additional 39 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on CRM. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. Oppenheimer boosted their price objective on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Piper Sandler upgraded Salesforce from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $268.00 to $325.00 in a report on Tuesday, September 24th. Finally, Canaccord Genuity Group raised their price objective on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $310.74.

Salesforce Trading Up 2.5 %

Shares of CRM opened at $291.57 on Wednesday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock has a market cap of $282.53 billion, a PE ratio of 52.44, a P/E/G ratio of 2.39 and a beta of 1.30. 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 business’s 50-day moving average price is $259.05 and its 200-day moving average price is $264.06.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. Salesforce’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is 28.78%.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 8,427 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Salesforce news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the sale, the insider now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Brian Millham sold 8,427 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00. The disclosure for this sale can be found here. Insiders sold a total of 76,412 shares of company stock worth $20,071,723 over the last ninety days. 3.20% of the stock is owned by corporate 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.