Axxcess Wealth Management LLC Has $559,000 Stock Position in 3M (NYSE:MMM)

Axxcess Wealth Management LLC raised its position in 3M (NYSE:MMM) by 83.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,111 shares of the conglomerate’s stock after acquiring an additional 2,330 shares during the period. Axxcess Wealth Management LLC’s holdings in 3M were worth $559,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. CGC Financial Services LLC raised its holdings in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after buying an additional 160 shares during the last quarter. Briaud Financial Planning Inc acquired a new position in 3M during the 3rd quarter valued at about $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of 3M in the third quarter worth approximately $37,000. VisionPoint Advisory Group LLC lifted its holdings in shares of 3M by 91.9% in the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 215 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in 3M during the third quarter worth $44,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MMM shares. UBS Group raised their price objective on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $110.00 to $111.00 in a report on Wednesday, May 1st. Mizuho reaffirmed a “neutral” rating and set a $105.00 target price on shares of 3M in a research report on Wednesday, March 27th. Finally, Citigroup increased their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $103.70.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

3M Stock Down 1.1 %

3M stock opened at $95.55 on Wednesday. The firm has a market capitalization of $52.87 billion, a price-to-earnings ratio of -7.51, a P/E/G ratio of 1.79 and a beta of 1.00. The firm has a 50 day simple moving average of $96.30 and a 200 day simple moving average of $97.84. 3M has a 1-year low of $71.12 and a 1-year high of $99.70. The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 4.17.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The business had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the prior year, the firm posted $1.97 EPS. On average, analysts predict that 3M will post 7.23 earnings per share for the current year.

3M Profile

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.