4WEALTH Advisors Inc. Takes Position in 3M (NYSE:MMM)

4WEALTH Advisors Inc. acquired a new stake in shares of 3M (NYSE:MMM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,400 shares of the conglomerate's stock, valued at approximately $439,000.

Several other large investors have also modified their holdings of MMM. Financial Life Planners acquired a new position in shares of 3M in the 4th quarter valued at $25,000. Proficio Capital Partners LLC purchased a new stake in 3M during the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M in the fourth quarter worth about $27,000. Daymark Wealth Partners LLC increased its position in shares of 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after acquiring an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of 3M by 230.1% during the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 214 shares during the period. 65.25% of the stock is owned by institutional investors.

3M Price Performance

MMM stock traded up $4.17 during trading on Friday, hitting $142.07. 2,729,425 shares of the stock traded hands, compared to its average volume of 4,049,576. The stock has a market cap of $76.46 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 3.30 and a beta of 1.01. 3M has a one year low of $95.01 and a one year high of $156.35. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The company has a 50 day simple moving average of $142.33 and a 200 day simple moving average of $138.38.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Equities analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.06%. This is a boost from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. 3M's payout ratio is currently 36.87%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MMM shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Thursday, April 24th. Citigroup lowered their price target on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Bank of America increased their price objective on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.

3M Company 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.