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Fred Alger Management LLC Acquires 54,335 Shares of AbbVie Inc. $ABBV
Fred Alger Management LLC significantly increased its stake in AbbVie Inc. (NYSE:ABBV) by 96.6% in Q3, now owning 110,561 shares valued at approximately $25.6 million. Other major institutional investors also added to their positions, bringing total institutional ownership to 70.23%. This increased interest comes as AbbVie reported a quarterly EPS beat, issued strong FY2026 guidance, declared a $1.73 quarterly dividend, and shared positive pipeline news, bolstering analyst confidence.