Assetmark Inc. Increases Stake in AbbVie, Strengthening Institutional Support

November 10, 2024 07:43 AM PST | By Team Kalkine Media

Google News:

Assetmark Inc. Increases Stake in AbbVie, Strengthening Institutional Support — Image source: Shutterstock

Recent News

DoubleVerify Sees Update in Digital Ad Tech Sector Russell 1000

Pagaya Technologies PGY Gains Support Nasdaq Index Stocks Watch

Oceaneering International OII Sees Institutional Growth on NYSE Compos...

GAMMA Expands Stake in Valvoline Inc Amid Market Movements S&P 500

Headlines

Assetmark Inc. raises stake in AbbVie Inc. (NYSE)

Institutional investors boost their positions in AbbVie

Strong institutional support for AbbVie as asset growth continues

AbbVie Inc. Sees Increased Institutional Support

Assetmark Inc. has increased its position in AbbVie Inc. (NYSE:ABBV) by 8.6% during the third quarter. This move adds 11,893 shares to its holdings, bringing the total to over 150,000 shares. Assetmark's enhanced stake in AbbVie demonstrates confidence in the company’s future. As of the latest filing, AbbVie’s value was placed in the tens of millions, signaling strong institutional interest.

In addition to Assetmark’s growth, other major investors have also raised their stakes in AbbVie. GGM Financials LLC, for example, increased its holdings by 0.7%. The firm now owns nearly 7,000 shares of AbbVie, reflecting continued faith in the company’s performance. Likewise, Pine Haven Investment Counsel Inc. expanded its shareholding by 0.3%, bringing its total to 18,000 shares.

AbbVie has also seen growth from Frisch Financial Group Inc., which lifted its position by 0.8%. The addition of shares now puts the firm's holdings at nearly 7,000 shares. Additionally, First Citizens Financial Corp. increased its position by 0.9%, bringing its total to over 5,700 shares. Even Sunflower Bank N.A. made a modest increase of 0.4% to its holdings in AbbVie.

The commitment from institutional investors underlines AbbVie’s solid position within the healthcare sector. These strategic moves suggest a continued interest from large-scale investors, who view the company as a stable option for growth. With institutional investors owning a significant portion of AbbVie’s shares, this ongoing support could help bolster confidence in the company moving forward.

AbbVie’s ongoing institutional backing reflects the belief in the company's potential. This continuous wave of investor support is likely to provide AbbVie with the necessary stability to navigate the challenges of the evolving healthcare landscape.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.