California Public Employees Retirement System Has $809.08 Million Position in AbbVie Inc. $ABBV

California Public Employees Retirement System trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 11.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,720,076 shares of the company’s stock after selling 478,533 shares during the quarter. AbbVie comprises about 0.5% of California Public Employees Retirement System’s portfolio, making the stock its 28th biggest position. California Public Employees Retirement System owned approximately 0.21% of AbbVie worth $809,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. Procyon Advisors LLC grew its stake in shares of AbbVie by 19.9% in the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after acquiring an additional 5,427 shares in the last quarter. Waycross Partners LLC boosted its holdings in AbbVie by 2.9% during the fourth quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock worth $41,694,000 after purchasing an additional 5,063 shares during the last quarter. Calamos Advisors LLC grew its position in AbbVie by 3.4% in the 4th quarter. Calamos Advisors LLC now owns 466,290 shares of the company’s stock worth $106,543,000 after purchasing an additional 15,458 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in AbbVie by 11.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 636,710 shares of the company’s stock worth $143,026,000 after purchasing an additional 66,720 shares in the last quarter. Finally, Savvy Advisors Inc. increased its stake in AbbVie by 22.2% in the 4th quarter. Savvy Advisors Inc. now owns 36,568 shares of the company’s stock valued at $8,355,000 after buying an additional 6,646 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABBV. Wells Fargo & Company boosted their target price on AbbVie from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. lifted their price target on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. BMO Capital Markets boosted their price objective on AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Royal Bank Of Canada upped their price objective on AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Finally, Guggenheim raised their target price on AbbVie from $249.00 to $261.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.67.

AbbVie Trading Up 0.1%

NYSE:ABBV opened at $254.53 on Friday. The stock has a market capitalization of $449.70 billion, a PE ratio of 125.38, a price-to-earnings-growth ratio of 0.84 and a beta of 0.30. The firm’s 50 day moving average is $229.80 and its 200 day moving average is $221.94. AbbVie Inc. has a 12 month low of $184.63 and a 12 month high of $261.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. During the same period in the prior year, the company earned $2.46 earnings per share. AbbVie’s revenue was up 12.4% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 14.16 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.7%. AbbVie’s dividend payout ratio (DPR) is 340.89%.

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

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.