California State Teachers Retirement System Has $582.91 Million Stock Position in AbbVie Inc. $ABBV

Key Points

• California State Teachers Retirement System reduced its AbbVie stake by 2.3% in the first quarter, selling 62,377 shares. It still owns 2.68 million shares valued at approximately $582.9 million, representing 0.6% of its portfolio and 0.15% of AbbVie.
• Analysts remain broadly bullish on ABBV. The stock has a consensus “Moderate Buy” rating and a $268.10 price target, supported by strong growth from Skyrizi and Rinvoq that is helping offset Humira’s decline.
• AbbVie shares opened at $263.49, near their 12-month high, while the company reported better-than-expected quarterly earnings and revenue growth. It also declared a quarterly dividend of $1.73, equivalent to a $6.92 annual payout and roughly a 2.6% yield, though elevated expectations create near-term “sell the news” risk.

California State Teachers Retirement System lowered its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,680,188 shares of the company's stock after selling 62,377 shares during the quarter. AbbVie makes up 0.6% of California State Teachers Retirement System's investment portfolio, making the stock its 21st largest holding. California State Teachers Retirement System owned about 0.15% of AbbVie worth $582,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ABBV. Ranch Capital Advisors Inc. increased its holdings in shares of AbbVie by 37.0% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company's stock valued at $3,238,000 after purchasing an additional 4,017 shares during the period. Calamos Advisors LLC grew its position in AbbVie by 3.4% during the fourth quarter. Calamos Advisors LLC now owns 466,290 shares of the company's stock valued at $106,543,000 after purchasing an additional 15,458 shares in the last quarter. Axecap Investments LLC grew its position in AbbVie by 713.2% during the fourth quarter. Axecap Investments LLC now owns 16,320 shares of the company's stock valued at $3,729,000 after purchasing an additional 14,313 shares in the last quarter. Bingham Private Wealth LLC acquired a new position in AbbVie in the 4th quarter valued at approximately $1,147,000. 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 period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Skyrizi and Rinvoq remain key growth drivers. The two immunology drugs are reportedly growing at more than 20% and have increasingly offset Humira’s loss of exclusivity, strengthening confidence in AbbVie’s long-term revenue outlook. Should You Buy, Hold or Sell ABBV Stock Ahead of Q2 Earnings?
• Positive Sentiment: Income and guidance support the investment case. Coverage highlights AbbVie’s roughly 2.62% dividend yield and raised earnings guidance, presenting ABBV as a combination of income, growth and comparatively low volatility ahead of the quarterly report. 3 Major Reasons for Investors to Buy AbbVie Stock Before July 31st
• Positive Sentiment: Pipeline and real-world data provide additional support. AbbVie completed a real-world RINVOQ study in psoriatic arthritis, while early safety data from the ABBV-722 Phase 1 program offer incremental pipeline visibility, though neither update is yet a major revenue catalyst. AbbVie Wraps Up Real-World RINVOQ Study in Psoriatic Arthritis
• Neutral Sentiment: Former AbbVie executive Michael Severino was named Sarepta Therapeutics’ CEO. The appointment is not expected to materially affect AbbVie’s operations, but it highlights the departure of a longtime AbbVie leader from the broader biopharmaceutical sector. Sarepta Names Former AbbVie President as CEO
• Negative Sentiment: Near-term “sell the news” risk remains. AbbVie’s recent rally has raised the possibility of profit-taking if second-quarter results, guidance or drug sales fail to exceed elevated expectations, despite the favorable long-term view. Should You Buy AbbVie Stock Hand Over Fist Before July 31?

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ABBV. Weiss Ratings reissued a "hold (c)" rating on shares of AbbVie in a research note on Monday, June 8th. Cantor Fitzgerald increased their price objective on AbbVie from $240.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Piper Sandler reissued an "overweight" rating and set a $298.00 price objective on shares of AbbVie in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their target price on AbbVie from $260.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada upped their target price on AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $268.10.

AbbVie Stock Up 2.6%

ABBV stock opened at $263.49 on Wednesday. The company has a market capitalization of $465.53 billion, a price-to-earnings ratio of 129.80, a P/E/G ratio of 0.85 and a beta of 0.30. AbbVie Inc. has a 12 month low of $187.62 and a 12 month high of $266.92. The firm has a 50 day moving average of $236.52 and a two-hundred day moving average of $223.32.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. AbbVie's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.46 EPS. On average, research analysts expect that AbbVie Inc. will post 14.16 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm 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 is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.6%. AbbVie's dividend payout ratio is currently 340.89%.

AbbVie 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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