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North Chicago Today
By the People, for the People
Fred Alger Management Boosts AbbVie Stake by 96.6%
Institutional investor now holds over 110,000 shares of the pharmaceutical company
Mar. 16, 2026 at 10:18am
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Fred Alger Management LLC, an institutional investor, increased its stake in AbbVie Inc. (NYSE: ABBV) by 96.6% during the third quarter, according to a recent filing with the Securities and Exchange Commission. The firm now owns 110,561 shares of the pharmaceutical company's stock, valued at $25.6 million.
Why it matters
AbbVie is a major player in the pharmaceutical industry, with a diverse product portfolio spanning immunology, oncology, neuroscience, and other therapeutic areas. Institutional investors closely monitor and adjust their positions in companies like AbbVie, as these moves can signal broader market trends and investor sentiment.
The details
According to the filing, Fred Alger Management acquired an additional 54,335 shares of AbbVie during the third quarter, bringing its total holdings to 110,561 shares. This represents a 96.6% increase in the firm's stake in the company. AbbVie's stock has seen fluctuations in recent months, with shares trading between $164.39 and $244.81 over the past 52 weeks.
- Fred Alger Management filed the disclosure with the SEC on March 16, 2026.
- The increased stake was reported for the third quarter of the previous year.
The players
Fred Alger Management LLC
An institutional investment management firm that oversees over $40 billion in assets.
AbbVie Inc.
A global biopharmaceutical company that develops and commercializes therapies for complex and chronic medical conditions.
The takeaway
The significant increase in Fred Alger Management's AbbVie holdings suggests the firm sees strong potential in the pharmaceutical company's future performance and growth prospects. This move aligns with broader investor interest in the healthcare sector and AbbVie's diverse product pipeline.
