8. AbbVie Inc. (NYSE:ABBV)
Number of Hedge Fund Holders as of Q3: 70
LMCG’s Equity Stake: $29.72 Million
AbbVie Inc. (NYSE:ABBV) is a leading pharmaceutical company based in North Chicago, Illinois, recognized as one of the largest biomedical firms by revenue. The company’s flagship product, Humira, is widely used to treat autoimmune disorders such as rheumatoid arthritis, Crohn’s disease, plaque psoriasis, and ulcerative colitis.
AbbVie Inc. (NYSE:ABBV) was established as an independent entity following Abbott Laboratories’ decision in 2011 to separate its pharmaceutical division into a standalone company. The spin-off was completed on January 1, 2013, and AbbVie began trading on the New York Stock Exchange under the ticker ABBV the following day. With a workforce of over 50,000 employees in more than 70 countries, AbbVie’s products address 75 medical conditions and are distributed in more than 175 countries. The company also collaborates with over 250 biotechnology firms, universities, nonprofits, and government organizations to drive medical innovation.
AbbVie Inc. (NYSE:ABBV) demonstrated strong financial performance for the quarter ended December 2024. The reported net revenue of $15.1 billion for the quarter, demonstrating a 5.6% increase year-over-year indicates solid business growth. However, the earnings per share (EPS) for the quarter were $2.16 against $2.79 for the same quarter in 2023, missing analyst estimates of $2.26 by 4.3%.
AbbVie’s top-selling drug, Humira, generated $187 billion in revenue for over two decades, but its patent expiration in January 2023 led to a 32% decline in Humira sales and a 7% drop in total company revenue due to similar medicines emerging in the market. Despite this, CEO Rob Michael stated at the 2025 JP Morgan Healthcare Conference that only 20% of patients have switched to the alternatives, with many transitioning to AbbVie’s newer immunology drugs, Skyrizi and Rinvoq. These treatments have already gained significant traction, capturing 50% of the market for inflammatory bowel disease (IBD) indications. With Skyrizi and Rinvoq contributing approximately $5 billion in growth, AbbVie Inc. (NYSE:ABBV)’s strategic shift towards innovative immunology treatments allows for the company’s strong long-term performance despite Humira’s decline.
LMCG owned 167,256 shares of the company as of Q4 2024, with a total value of $29.72 million, making it the stock with the 8th largest stake in Munder’s highly diversified portfolio. By the end of the third quarter, 68 funds out of the 900 funds tracked by Insider Monkey held stakes in AbbVie Inc. (NYSE:ABBV) worth over $2.58 billion, up from 67 funds by the end of Q2.
Polaris Global Equity Strategy stated the following regarding AbbVie Inc. (NYSE:ABBV) in its Q3 2024 investor letter:
“U.S. biopharma/biotech companies topped the health care sector, with the majority of holdings posting returns in excess of 10%. AbbVie Inc. (NYSE:ABBV) showed positive top-line growth from its immunosuppressive drugs, Skyrizi and Rinvoq. Abbvie’s management continues to work through the loss of exclusivity from Humira, switching patients to Skyrizi or Rinvoq rather than Humira biosimilars.”
