Palumbo Wealth Management LLC Raises Stake in Salesforce Inc. $CRM

Palumbo Wealth Management LLC grew its holdings in Salesforce Inc. (NYSE:CRM) by 4.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,474 shares of the CRM provider’s stock after buying an additional 243 shares during the period. Palumbo Wealth Management LLC’s holdings in Salesforce were worth $1,493,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRM. Brighton Jones LLC lifted its position in Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after acquiring an additional 3,102 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after purchasing an additional 205 shares during the last quarter. Bison Wealth LLC lifted its holdings in shares of Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock worth $747,000 after purchasing an additional 184 shares during the period. Voloridge Investment Management LLC purchased a new position in Salesforce in the 4th quarter valued at $872,000. Finally, Wood Tarver Financial Group LLC purchased a new position in Salesforce in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $245.85 on Thursday. The business has a 50 day moving average price of $250.07 and a 200 day moving average price of $262.14. The company has a market capitalization of $234.05 billion, a P/E ratio of 35.73, a PEG ratio of 2.23 and a beta of 1.22. Salesforce Inc. has a 1-year low of $226.48 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the company earned $2.56 earnings per share. Salesforce’s revenue was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Sell-side analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th will be given a dividend of $0.416 per share. The ex-dividend date is Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. Salesforce’s payout ratio is presently 24.13%.

Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. Stephens reduced their target price on shares of Salesforce from $311.00 to $309.00 and set an “equal weight” rating for the company in a research note on Friday, May 30th. Needham & Company LLC reissued a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, September 4th. KeyCorp reduced their price objective on shares of Salesforce from $440.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, September 4th. BMO Capital Markets dropped their target price on Salesforce from $335.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, September 4th. Finally, The Goldman Sachs Group increased their target price on Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $332.58.

Insider Activity

In related news, Director David Blair Kirk bought 3,400 shares of Salesforce stock in a transaction that occurred on Tuesday, September 9th. The shares were purchased at an average price of $254.66 per share, with a total value of $865,844.00. Following the purchase, the director owned 3,824 shares in the company, valued at $973,819.84. This represents a 801.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $248.19, for a total value of $558,427.50. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at $2,956,332,806.49. The trade was a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,500 shares of company stock worth $19,402,583 in the last ninety days. Insiders own 3.00% of the company’s stock.

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.