California Public Employees Retirement System Sells 778,732 Shares of AbbVie Inc. $ABBV

California Public Employees Retirement System cut its holdings in AbbVie Inc. (NYSE:ABBV) by 13.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,890,752 shares of the company’s stock after selling 778,732 shares during the quarter. AbbVie comprises 0.6% of California Public Employees Retirement System’s holdings, making the stock its 24th biggest position. California Public Employees Retirement System owned approximately 0.28% of AbbVie worth $907,821,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. TD Capital Management LLC increased its position in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new position in AbbVie during the 2nd quarter worth about $25,000. Spurstone Advisory Services LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at about $28,000. Financial Gravity Companies Inc. bought a new stake in shares of AbbVie in the second quarter valued at about $36,000. Finally, Bear Mountain Capital Inc. lifted its holdings in shares of AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup decreased their price objective on AbbVie from $240.00 to $235.00 and set a “neutral” rating for the company in a report on Monday, November 3rd. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 30th. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and lifted their price objective for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. Evercore ISI boosted their price objective on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $289.00 target price (up previously from $284.00) on shares of AbbVie in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $241.85.

AbbVie Trading Down 1.1%

NYSE ABBV opened at $226.24 on Friday. AbbVie Inc. has a 12 month low of $164.39 and a 12 month high of $244.81. The company has a current ratio of 0.72, a quick ratio of 0.60 and a debt-to-equity ratio of 44.14. The stock has a 50 day moving average of $228.30 and a 200-day moving average of $208.35. The company has a market cap of $399.85 billion, a PE ratio of 171.39, a PEG ratio of 1.22 and a beta of 0.36.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.09. AbbVie had a net margin of 4.00% and a return on equity of 3,216.47%. The firm had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the prior year, the firm posted $3.00 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 16th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 3.1%. This is a boost from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, January 16th. AbbVie’s dividend payout ratio (DPR) is presently 496.97%.

AbbVie Profile

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