California State Teachers Retirement System 13F: Cuts ABBV Stake by $16M
CalSTRS has trimmed its position in AbbVie Inc. by over 62,000 shares.
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California State Teachers Retirement System sold 62,377 shares from its stake in AbbVie Inc. ($ABBV), a 2.27% decrease, according to a 13F filing with the SEC dated May 18, 2026. It reported 2,680,188 shares worth $677 million at the end of the quarter.
Since the filing, $ABBV is up 1.8% after 1 week, up 5.7% after 1 month and up 38.1% to date (from the $206.66 close on May 18, 2026).
Find the original: California State Teachers Retirement System 13F filings on SEC EDGAR
ABBV
AbbVie Inc.
Key Points
- The California State Teachers Retirement System reduced its stake in AbbVie Inc. (NYSE: ABBV) by 62,377 shares, bringing its total to 2,680,188 shares valued at approximately $677 million as of May 18, 2026.
- AbbVie stock was trading at $252.59 on the day of publication, down from a previous close of $263.96, reflecting a challenging market environment.
- Analysts have a consensus recommendation of 'buy' for AbbVie, with a mean price target of $278.61, indicating positive sentiment around the stock.
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CalSTRS Trims Its Position in AbbVie
The California State Teachers Retirement System has trimmed its stake in AbbVie Inc. (NYSE: ABBV) by 62,377 shares, reducing its total holdings to 2,680,188 shares. This change reflects a 2.27% decrease in its investment, now valued at approximately $677 million as of May 18, 2026.
Recent Moves by Other Funds
While no other funds reported similar changes in AbbVie's stock during this filing period, it's worth noting that other institutions have made adjustments recently. For instance, Kmg Fiduciary Partners reduced its stake in AbbVie by 3.8%, and Trexquant Investment cut its holdings by 19%. These moves suggest a cautious approach among investors regarding AbbVie's stock.
How AbbVie Inc. Stock Has Traded
AbbVie shares were priced at $252.59 on the day of publication, a decline from the previous close of $263.96. The stock has traded between $190.75 and $267.47 over the past year, indicating significant volatility. The current price is near the 50-day moving average of $255.68, which is an important indicator for market performance.
Analysts Set New Price Targets
Recent analyst ratings reflect a generally positive outlook for AbbVie. On October 13, 2026, RBC Capital reiterated an 'Outperform' rating with a target price of $280. UBS maintained a 'Neutral' rating with a target of $275, while Guggenheim reiterated a 'Buy' rating with a target of $288. The consensus recommendation remains a strong 'Buy' based on the average target price of $278.61 from 28 analysts.
What AbbVie Inc. Does
AbbVie Inc. is a research-based biopharmaceutical company based in North Chicago, Illinois. It focuses on developing and selling various medicines and therapies worldwide, including treatments for autoimmune diseases and cancer. The recent adjustments in holdings by institutional investors like CalSTRS highlight ongoing interest and scrutiny in AbbVie's performance.
What's Ahead for AbbVie Inc.
Investors will be watching for AbbVie’s next earnings report scheduled for October 29, 2026. As a reminder, the latest 13F filing reflects holdings as of May 18, 2026, and may not represent the current position of the California State Teachers Retirement System. Further adjustments in the stock's performance or institutional holdings could provide insights into market sentiment around AbbVie.
Related Filing Alerts
Source: California State Teachers Retirement System's 13F filing on $ABBV (May 18, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: California State Teachers Retirement System 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts