OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in <a href="https://bitcomme.com/oxford-financial-group-ltd-llc-buys-shares-of-3149-salesforce-inc-crm/” title=”Oxford Financial Group LTD. LLC Buys Shares of 3,149 Salesforce Inc. $CRM”>Salesforce Inc. (NYSE:CRM – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,910 shares of the CRM provider’s stock, valued at approximately $2,179,000.
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Several other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth Retirement Investments LLC bought a new stake in shares of Salesforce in the fourth quarter valued at $25,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter worth $26,000. Persistent Asset Partners Ltd bought a new position in shares of Salesforce during the 2nd quarter worth $27,000. Costello Asset Management INC increased its holdings in Salesforce by 410.3% in the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 119 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new stake in Salesforce in the 2nd quarter valued at about $28,000. 80.43% of the stock is owned by institutional investors.
Salesforce Trading Down 0.2%
Shares of CRM opened at $205.61 on Friday. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The stock has a market cap of $168.39 billion, a PE ratio of 23.80, a P/E/G ratio of 1.11 and a beta of 1.16. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The business’s 50-day moving average price is $173.47 and its 200-day moving average price is $181.36.
Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. Salesforce’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business earned $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. On average, equities analysts forecast that Salesforce Inc. will post 10.27 EPS for the current fiscal year.
Salesforce Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s dividend payout ratio (DPR) is presently 20.37%.
Analyst Upgrades and Downgrades
CRM has been the topic of several recent research reports. UBS Group upped their price objective on shares of Salesforce from $185.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. Wolfe Research lowered shares of Salesforce from an “outperform” rating to a “hold” rating in a research report on Wednesday, July 1st. The Goldman Sachs Group initiated coverage on shares of Salesforce in a research note on Thursday, June 18th. They set a “neutral” rating on the stock. Wall Street Zen downgraded shares of Salesforce from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Royal Bank Of Canada lowered shares of Salesforce from a “sector perform” rating to a “sector perform” rating in a research note on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $249.87.
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