AbbVie Inc. (NYSE: ABBV) is a pharmaceutical company that develops and markets treatments in immunology, oncology, neuroscience, and medical aesthetics. Best known for drugs like Humira, Skyrizi, and Rinvoq, AbbVie has grown into one of the world’s largest pharma players, recently trading around $208 per share with a market cap of about $368 billion. Despite Humira’s patent expiration, the company has managed to defend margins with newer drugs and by leveraging its Allergan acquisition to expand into aesthetics.
AbbVie is now widely owned by some of the largest asset managers and sovereign funds, reflecting its transition into a global healthcare staple. Looking at ownership trends and insider trades may give investors a better sense of how confident major players are in AbbVie’s future.
Who Are AbbVie’s Top Shareholders?
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AbbVie develops medicines across immunology, oncology, neuroscience, and medical aesthetics, making it one of the world’s largest pharmaceutical companies. Its stock is primarily held by passive index giants, while some active managers have made more selective moves.
- Vanguard Group: 176.5M shares (9.99%), ~$36.8B. Added 3.35M (+1.9%).
- BlackRock: 92.1M shares (5.21%), ~$19.2B. Added 1.07M (+1.2%).
- State Street: 80.0M shares (4.53%), ~$16.7B. Slight increase (+0.08%).
- Geode Capital: 39.2M shares (2.22%), ~$8.2B. Added 924K (+2.4%).
- JP Morgan Asset Mgmt: 37.5M shares (2.12%), ~$7.8B. Added 1.87M (+5.2%).
- Charles Schwab Inv. Mgmt: 26.8M shares (1.52%), ~$5.6B. Added 1.52M (+6.0%).
- Capital Research Global Investors: 25.3M shares (1.43%), ~$5.3B. Cut 8.24M (-24.6%).
- Norges Bank (NBIM): 23.1M shares (1.31%), ~$4.8B. Cut 1.99M (-7.9%).
One highlight from last quarter is Balyasny Asset Management, led by Dmitry Balyasny, which lifted its AbbVie stake by over 4,564%. The fund now owns about 1.29 million shares worth $240 million, a sharp ramp-up that looks like a strong conviction bet on AbbVie at current levels.
Another notable move came from Jane Street Group, which boosted its holdings by more than 4,148% to roughly 576K shares valued at $107 million. This steep increase may suggest that the trading firm sees opportunity in AbbVie’s near-term setup.
Meanwhile, Bridgewater Associates, founded by Ray Dalio, raised its position by 470% to about 598K shares worth $111 million. This move adds to the list of hedge funds significantly increasing their exposure to AbbVie during the quarter.
Vanguard, BlackRock, and State Street keep AbbVie firmly anchored in index portfolios. JP Morgan and Schwab have been building positions, while Capital Research and Norges Bank reduced exposure. The split may suggest investors are divided on AbbVie’s ability to sustain growth beyond Humira.
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AbbVie’s Recent Insider Trades
Insider trading at AbbVie has leaned toward selling in recent months, with larger transactions coming from senior executives and smaller moves from directors.
Insider activity can sometimes hint at confidence or caution, though motivations often vary (e.g., diversification, tax planning, or routine sales).
At AbbVie, recent activity has leaned toward sales by officers, while director trades have been limited in size.
Here are some recent insider sales:
- Azita Saleki-Gerhardt (Officer): Received 42,370 shares as part of compensation at ~$55 in early August, then sold the same block later that month at ~$198.
- Nicholas Donoghoe (Officer): Reported two open-market sales in August, with 10,061 shares at $198.59 and 3,234 shares at $198.27.
- Richard Gonzalez (Former Exec): Filed multiple Form 144 notices in August, consistent with planned sales or option exercises.
- Directors (Edward Rapp, Robert Alpern, Susan Quaggin, Thomas Falk, Glenn Tilton, Roxanne Austin, Frederick Waddell): Small transactions earlier in the year, typically 40–1,200 shares, which appear more symbolic than directional.
The larger executive sales may appear like diversification at strong share prices, while the smaller director trades seem too limited to impact sentiment.
The lack of meaningful insider buying may suggest that leadership is in no rush to add exposure at today’s valuation, which investors could read as a cautious or wait-and-see approach.
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What the Ownership & Insider Trade Data Tell Us
AbbVie’s shareholder base is anchored by passive giants like Vanguard, BlackRock, and State Street, which helps keep the stock firmly tied to global index flows. Among active managers, JP Morgan and Schwab have been adding, which may signal confidence in AbbVie’s pipeline beyond Humira. At the same time, reductions from Capital Research and Norges Bank suggest a more cautious stance from some institutions.
Insider activity appears cautious as well, with larger sales from senior officers and only modest trades from directors. The absence of meaningful insider buying may suggest that leadership is not rushing to increase exposure at today’s valuation.
The signals look mixed. Institutions continue to hold AbbVie as a core position, but insider trades and selective fund moves suggest some hesitation. Investors may be waiting to see how well AbbVie can transition growth from Humira to its newer drugs before showing stronger conviction.
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