Cardinal Capital Management Inc. Purchases 420 Shares of AbbVie Inc. (NYSE:ABBV)

Cardinal Capital Management Inc. increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 198,080 shares of the company’s stock after buying an additional 420 shares during the period. AbbVie accounts for about 1.3% of Cardinal Capital Management Inc.’s portfolio, making the stock its 25th largest holding. Cardinal Capital Management Inc.’s holdings in AbbVie were worth $26,687,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kalos Management Inc. bought a new stake in shares of AbbVie during the 1st quarter worth about $26,000. Boulder Wealth Advisors LLC acquired a new position in shares of AbbVie in the 4th quarter valued at approximately $31,000. Stone House Investment Management LLC acquired a new position in shares of AbbVie in the 1st quarter valued at approximately $37,000. True Wealth Design LLC acquired a new position in shares of AbbVie in the 4th quarter valued at approximately $39,000. Finally, General Partner Inc. acquired a new position in shares of AbbVie in the 1st quarter valued at approximately $40,000. Institutional investors own 67.86% of the company’s stock.

Insider Activity

In other news, CEO Richard A. Gonzalez sold 18,500 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $149.15, for a total value of $2,759,275.00. Following the completion of the transaction, the chief executive officer now directly owns 625,294 shares in the company, valued at $93,262,600.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ABBV shares. Piper Jaffray Companies upped their price objective on shares of AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. StockNews.com started coverage on shares of AbbVie in a research note on Thursday, August 17th. They issued a “strong-buy” rating on the stock. Piper Sandler upped their price objective on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. William Blair began coverage on shares of AbbVie in a research note on Tuesday, July 25th. They set a “market perform” rating on the stock. Finally, Credit Suisse Group lowered their price objective on shares of AbbVie from $170.00 to $160.00 in a report on Wednesday, July 12th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.79.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $152.12 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 4.33. The firm has a market capitalization of $268.50 billion, a PE ratio of 31.30, a P/E/G ratio of 2.74 and a beta of 0.58. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $168.11. The company has a 50-day moving average price of $146.42 and a two-hundred day moving average price of $147.50.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.12. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. The company had revenue of $13.87 billion during the quarter, compared to analyst estimates of $13.52 billion. Equities analysts forecast that AbbVie Inc. will post 11.03 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a $1.48 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.89%. AbbVie’s dividend payout ratio (DPR) is currently 121.81%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.