Institutional Investors Trim Holdings in AbbVie and Amgen

Midwest Professional Planners LTD. cut its AbbVie Inc. position by 6,699 shares in Q1, leaving a stake of 10,897 shares worth roughly $2.37 million. In a similar move, John G Ullman & Associates Inc. reduced its Amgen Inc. holding by 6,675 shares, ending the quarter with 2,125 shares valued at about $748,000. Institutional investors collectively own about 70 % of AbbVie and roughly 76 % of Amgen, indicating notable but limited shifts in ownership among large shareholders.