IFP Advisors Inc Cuts Stake in 3M by 56.9%

IFP Advisors Inc has significantly reduced its stake in 3M Company (NYSE:MMM), according to the company's most recent 13F filing with the Securities & Exchange Commission.

The firm sold 8,380 shares of 3M during the 2nd quarter, reducing its position by 56.9%. As a result, IFP Advisors Inc now owns 6,343 shares of the conglomerate's stock, valued at $1,027,000.

This is not an isolated incident, as several other institutional investors have also made significant changes to their holdings in 3M recently.