Avidian Wealth Solutions LLC Has $519,000 Stock Holdings in 3M (NYSE:MMM)

Avidian Wealth Solutions LLC decreased its position in 3M (NYSE:MMMFree Report) by 6.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,898 shares of the conglomerate’s stock after selling 322 shares during the period. Avidian Wealth Solutions LLC’s holdings in 3M were worth $519,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Tributary Capital Management LLC bought a new stake in shares of 3M in the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. increased its stake in 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in 3M during the 1st quarter worth approximately $32,000. Livelsberger Financial Advisory bought a new position in 3M in the fourth quarter valued at approximately $35,000. Finally, CGC Financial Services LLC boosted its holdings in shares of 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after buying an additional 160 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

NYSE:MMM traded up $2.03 during mid-day trading on Wednesday, hitting $101.72. The stock had a trading volume of 4,518,381 shares, compared to its average volume of 5,377,542. The company’s 50 day simple moving average is $100.39 and its 200 day simple moving average is $98.98. The stock has a market cap of $56.29 billion, a price-to-earnings ratio of -7.86, a PEG ratio of 1.88 and a beta of 0.95. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. 3M has a twelve month low of $71.12 and a twelve month high of $106.04.

3M (NYSE:MMMGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. The business had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter in the prior year, the business earned $1.97 EPS. On average, equities research analysts forecast that 3M will post 7.17 earnings per share for the current year.

3M Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were paid a $0.70 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.80 annualized dividend and a yield of 2.75%. 3M’s dividend payout ratio (DPR) is presently -22.01%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Vertical Research upgraded 3M from a “hold” rating to a “buy” rating and increased their target price for the stock from $92.00 to $140.00 in a report on Thursday, May 16th. Barclays lifted their target price on 3M from $112.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Bank of America raised 3M from a “neutral” rating to a “buy” rating and upped their price target for the stock from $105.00 to $120.00 in a research report on Friday, June 7th. Mizuho reissued a “neutral” rating and issued a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. Finally, HSBC raised shares of 3M from a “hold” rating to a “buy” rating and raised their target price for the company from $91.13 to $115.00 in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $112.00.

View Our Latest Stock Analysis on 3M

3M Profile

(Free Report)

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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