Cardinal Capital Management Inc. Buys 21,206 Shares of AbbVie Inc. $ABBV

Key Points

• Cardinal Capital Management increased its AbbVie stake by 8.4%, buying 21,206 additional shares to hold 273,719 shares valued at approximately $68.9 million. Institutional investors collectively own 70.23% of ABBV.
• Analysts maintain a generally positive outlook, with AbbVie receiving a consensus “Moderate Buy” rating and an average price target of $274.33; BMO Capital Markets recently raised its target to $300.
• AbbVie exceeded second-quarter expectations with $3.65 in EPS and $16.99 billion in revenue, while revenue rose 10.2% year over year. The company also declared a quarterly dividend of $1.73 per share, equivalent to a 2.8% annualized yield.

Cardinal Capital Management Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 273,719 shares of the company's stock after purchasing an additional 21,206 shares during the period. AbbVie accounts for 1.7% of Cardinal Capital Management Inc.'s holdings, making the stock its 21st biggest position. Cardinal Capital Management Inc.'s holdings in AbbVie were worth $68,879,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in ABBV. Brighton Jones LLC raised its position in AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of AbbVie by 5.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock valued at $3,056,000 after purchasing an additional 789 shares during the period. Ieq Capital LLC lifted its stake in AbbVie by 4.6% in the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock valued at $22,281,000 after purchasing an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in AbbVie by 117.3% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock worth $210,685,000 after purchasing an additional 612,702 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Sanford C. Bernstein reissued a "market perform" rating on shares of AbbVie in a research report on Tuesday, June 23rd. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 5th. BMO Capital Markets boosted their target price on AbbVie from $258.00 to $300.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Weiss Ratings upgraded AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, August 4th. Finally, DZ Bank raised AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $274.33.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Apogee Therapeutics shareholders approved AbbVie’s approximately $10.9 billion cash acquisition, helping remove a key closing hurdle. The deal is expected to expand AbbVie’s immunology pipeline with zumilokibart, an atopic dermatitis candidate advancing toward Phase 3 trials, while Apogee’s leadership transition is expected to support integration. Apogee Shareholders Approve AbbVie Acquisition and Leadership Transition
• Positive Sentiment: AbbVie’s Skyrizi and Rinvoq continued to drive strong quarterly growth through market-share gains and additional indications, reinforcing the company’s strategy for replacing revenue eventually pressured by Humira biosimilars. How Much Did Immunology Drugs Contribute to AbbVie’s Q2 Performance?
• Positive Sentiment: The FDA accepted a supplemental application to review Botox Cosmetic for treating masseter muscle prominence. Approval would create a potential fifth use for the brand and modestly broaden AbbVie’s aesthetics growth opportunity. AbbVie’s Botox Just Got A Step Closer To A Fifth Use
• Neutral Sentiment: BNP Paribas Exane raised its ABBV price target from $218 to $247 but maintained a Neutral rating, suggesting limited upside after the recent rally. BNP Paribas Exane AbbVie Price Target Update
• Neutral Sentiment: Investor commentary remains constructive on AbbVie’s dividend and valuation, with some analysts describing the stock as an attractive income-oriented healthcare investment after its solid second-quarter performance. Is AbbVie Stock a Buy After Posting Strong Q2 Earnings?
• Negative Sentiment: AbbVie is reportedly taking on roughly $8 billion of debt to help fund the Apogee transaction. While the acquisition could strengthen long-term growth, added leverage may increase interest costs and concern dividend investors if expected pipeline returns take longer to materialize. AbbVie Piles on $8 Billion in Debt for Its Apogee Deal
• Negative Sentiment: Erste Group Bank trimmed its FY2027 EPS forecast from $16.40 to $16.24, although it retained a Buy rating. The revision is a modest headwind amid ABBV’s elevated price-to-earnings multiple.

AbbVie Stock Up 0.7%

Shares of ABBV stock opened at $249.73 on Wednesday. AbbVie Inc. has a 12-month low of $190.75 and a 12-month high of $267.47. The company has a market capitalization of $441.22 billion, a PE ratio of 70.54, a price-to-earnings-growth ratio of 0.82 and a beta of 0.30. The firm has a 50 day moving average price of $243.35 and a two-hundred day moving average price of $225.51.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, beating the consensus estimate of $3.61 by $0.04. The company had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, research analysts expect that AbbVie Inc. will post 14.07 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be issued a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie's dividend payout ratio (DPR) is currently 195.48%.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.

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