Major Investment Firm Boosts Key Tech Holdings
Focus Partners Wealth Increases Salesforce Holdings to $237 Million After Strong AI Revenue Quarter
Key Points
Salesforce’s latest quarter included revenue of $11.13 billion and EPS of $3.88, with AI/data recurring revenue (AI/data ARR) rising to $3.4 billion; the company’s Agentforce reportedly generated $1.2 billion on its own.
In Salesforce, Focus Partners Wealth reported owning 895,329 shares after buying an additional 644,040 shares in the period, with the stake valued at $237,128,000; the article also noted that 80.43% of the stock is held by institutional investors and hedge funds.
For Jacobs Solutions, CEO Robert V. Pragada bought 3,601 shares at an average price of $111.09 (total value $400,035.09) on May 15, and director Manuel J. Fernandez bought 403 shares at an average price of $121.93 (total value $49,137.79) on May 8—transactions disclosed in SEC filings.
Lowe’s declared a quarterly dividend of $1.25 per share, payable on Wednesday, August 5, with shareholders of record listed as Wednesday, July 22.
Focus Partners Wealth has more than tripled its bet on Salesforce, adding 644,040 shares to reach 895,329 total — a 254% jump — with the stake now valued at $237 million, according to MarketBeat. The move comes as Salesforce reported record quarterly revenue of $11.13 billion and disclosed that its AI agent platform, Agentforce, has hit $1.2 billion in recurring annual revenue.
The Salesforce buy is the headline act in a broader portfolio reshuffle by Focus Partners Wealth, which also raised its stakes in Jacobs Solutions by 246%, PNC Financial by 233%, and more than tripled its position in Lowe's, per 13F Info.
Salesforce's AI Bet Pays Off With Record Numbers
Salesforce posted Q1 fiscal 2027 revenue of $11.13 billion, beating the $11.05 billion analyst forecast, according to Digital Commerce 360. Non-GAAP earnings per share came in at $3.88, well above the $3.12 expected. Combined AI and data recurring revenue reached $3.4 billion, up more than 200% year over year.
Agentforce — Salesforce's platform for autonomous AI agents — is the star of the show. CEO Marc Benioff said the platform has surpassed $1.2 billion in annual recurring revenue. Benioff called this "the biggest growth opportunity for our customers and for us," describing Agentforce as "the new backbone of CRM." Institutional investors now hold 80.43% of Salesforce shares, per Seeking Alpha.
Jacobs Solutions Insiders Buy Stock as Fund Piles In
Focus Partners Wealth raised its Jacobs Solutions stake by 246% in the fourth quarter. That buying coincides with notable moves by company insiders. CEO Robert V. Pragada bought 3,601 shares at $111.09 each on May 15, spending roughly $400,035 in total, according to Investing.com.
Just one week earlier, director Manuel J. Fernandez bought 403 shares at $121.93, spending $49,138, per SEC filings cited by Quiver Quantitative. The cluster of insider buying — five purchases and zero sales over six months — is a strong signal that leadership believes the market has undervalued Jacobs' consulting and data solutions business after its recent restructuring.
Lowe's Dividend Hike Rewards Patient Shareholders
Focus Partners Wealth more than tripled its Lowe's position during the period. The retailer sweetened the deal for shareholders on May 29, declaring a quarterly dividend of $1.25 per share — a 4.2% increase — according to PR Newswire. The dividend is payable August 5 to shareholders of record as of July 22.
CEO Marvin R. Ellison said the higher payout "underscores the board's confidence in the company's trajectory" and its "Total Home" retail strategy, per Barchart. For income-focused investors, the dividend raise reinforces Lowe's standing as a reliable payer in a volatile market.
AI Growth Meets Layoffs as Salesforce Reshapes Its Workforce
Salesforce's record AI revenue has not stopped headcount cuts. On June 9, the company confirmed layoffs of 86 employees across its Agentforce and MuleSoft teams, according to Quartz. The cuts highlight what analysts call the "AI Paradox" — surging output from machines while human headcount shrinks. Salesforce has held its engineering team steady at roughly 15,000 for two years while boosting productivity.
Not all analysts are convinced the rally will hold. Some on Wall Street, including Bank of America, maintain an underperform rating with a $160 price target, warning that AI agents could cannibalize Salesforce's traditional per-seat software licenses, per TheStreet. Bulls counter that the stock trades at about 12 times current-year earnings — cheap for a company growing revenue at double-digit rates — and point to a $25 billion share buyback program as a floor for the stock.
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