Institutional Funds Boost AbbVie Stake, Trim Blackstone Holding

O Shaughnessy Asset Management increased its position in AbbVie Inc. by about 7.6% in the fourth quarter, acquiring roughly 24,000 additional shares for a total of 339,371 shares valued at $77.5 million. The move adds to a broader pattern of large investors adjusting positions in AbbVie, though O Shaughnessy’s purchase was the most notable change reported.

Strategic Wealth Investment Group reduced its stake in Blackstone Inc. by 20.9% during the same quarter, selling 16,674 shares and ending the period with 63,070 shares worth about $9.7 million. The sale is part of a series of recent transactions by institutional investors in Blackstone, but Strategic Wealth’s divestiture was the largest reported adjustment.