Marion Wealth Management Has $248,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Marion Wealth Management lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 905 shares of the CRM provider’s stock after purchasing an additional 85 shares during the quarter. Marion Wealth Management’s holdings in Salesforce were worth $248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dynamic Advisor Solutions LLC raised its holdings in Salesforce by 1.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 21,861 shares of the CRM provider’s stock valued at $5,984,000 after buying an additional 313 shares in the last quarter. Tlwm increased its holdings in shares of Salesforce by 28.2% during the 3rd quarter. Tlwm now owns 6,417 shares of the CRM provider’s stock valued at $1,756,000 after acquiring an additional 1,410 shares during the last quarter. Blue Zone Wealth Advisors LLC raised its stake in shares of Salesforce by 3.0% in the 3rd quarter. Blue Zone Wealth Advisors LLC now owns 23,240 shares of the CRM provider’s stock valued at $6,361,000 after acquiring an additional 677 shares in the last quarter. Axiom Advisory LLC lifted its holdings in Salesforce by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 6,272 shares of the CRM provider’s stock worth $1,608,000 after purchasing an additional 96 shares during the last quarter. Finally, Eastover Investment Advisors LLC boosted its position in Salesforce by 16.9% during the third quarter. Eastover Investment Advisors LLC now owns 24,174 shares of the CRM provider’s stock worth $6,617,000 after purchasing an additional 3,500 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the completion of the sale, the insider now owns 116,693 shares in the company, valued at approximately $29,745,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the transaction, the insider now owns 116,693 shares of the company’s stock, valued at $29,745,045.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brian Millham sold 2,037 shares of Salesforce stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $248.75, for a total value of $506,703.75. Following the completion of the sale, the chief operating officer now owns 1,947 shares of the company’s stock, valued at approximately $484,316.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,412 shares of company stock worth $20,071,723 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America restated a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a research note on Friday, September 6th. TD Cowen upped their price target on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Citigroup boosted their price objective on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Sanford C. Bernstein lifted their price target on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.74.

Salesforce Price Performance

NYSE:CRM opened at $285.75 on Tuesday. 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 market cap of $276.89 billion, a PE ratio of 51.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company’s 50-day moving average price is $258.53 and its two-hundred day moving average price is $264.22.

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

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. Salesforce’s dividend payout ratio is 28.78%.

About Salesforce

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.