California Public Employees Retirement System Sells 478,533 Shares of AbbVie Inc. $ABBV

California Public Employees Retirement System trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 11.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,720,076 shares of the company’s stock after selling 478,533 shares during the period. AbbVie makes up 0.5% of California Public Employees Retirement System’s investment portfolio, making the stock its 28th biggest holding. California Public Employees Retirement System’s holdings in AbbVie were worth $809,079,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Vanguard Group Inc. boosted its holdings in shares of AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after acquiring an additional 3,032,438 shares during the period. State Street Corp raised its stake in shares of AbbVie by 1.4% during the 4th quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after purchasing an additional 1,119,274 shares during the period. Geode Capital Management LLC lifted its holdings in AbbVie by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares in the last quarter. Bank of America Corp DE lifted its holdings in AbbVie by 1.4% during the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after purchasing an additional 356,394 shares in the last quarter. Finally, Norges Bank bought a new position in AbbVie in the 4th quarter worth about $5,865,055,000. Institutional investors own 70.23% of the company’s stock.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s Allergan Aesthetics unit won European Commission approval for Boey® (trenibotulinumtoxinE), a new facial injectable for glabellar lines. The approval gives AbbVie a differentiated aesthetics product in all 30 EEA countries and could add another growth driver to offset Humira-related declines. Article Title
• Positive Sentiment: Investors are also focusing on AbbVie’s neuroscience franchise and other newer product catalysts, with analysts expecting solid Q2 growth and continued momentum from brands such as Vyalev, RINVOQ, and SKYRIZI ahead of earnings. Article Title
• Positive Sentiment: Brokerage sentiment remains constructive, with recent coverage showing a “Moderate Buy” consensus and multiple price-target increases in July, reinforcing confidence in AbbVie’s long-term pipeline and earnings outlook. Article Title
• Neutral Sentiment: Erste Group slightly lowered its FY2026 EPS estimate for AbbVie to $14.08 from $14.23, though the new estimate remains close to the consensus of $14.18 and is not a major deviation. Article Title

AbbVie Stock Up 0.1%

Shares of NYSE ABBV opened at $254.53 on Friday. The stock’s 50-day simple moving average is $229.80 and its two-hundred day simple moving average is $221.94. AbbVie Inc. has a twelve month low of $184.63 and a twelve month high of $261.64. The firm has a market capitalization of $449.70 billion, a P/E ratio of 125.38, a P/E/G ratio of 0.84 and a beta of 0.30.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.AbbVie’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 14.16 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.73 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.7%. AbbVie’s payout ratio is presently 340.89%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ABBV shares. HSBC reiterated a “buy” rating and set a $300.00 price target on shares of AbbVie in a research report on Monday, July 6th. Wells Fargo & Company raised their price objective on shares of AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Citigroup boosted their price objective on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley upped their target price on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $267.67.

About AbbVie

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.