Scott T. Reents, the Executive Vice President and Chief Financial Officer of AbbVie Inc . (NYSE:ABBV), has sold a significant portion of his holdings in the company. The transaction comes as AbbVie trades near its 52-week high of $218.66, with the stock showing strong momentum, up nearly 22% year-to-date according to InvestingPro data. According to a recent SEC filing, Reents sold 17,644 shares of AbbVie common stock on March 14, 2025. The shares were sold at a weighted average price of $212.34, with transaction prices ranging from $212.27 to $212.49. The total value of the sale amounted to approximately $3.75 million. InvestingPro analysis indicates the stock is currently trading at Fair Value, with the company maintaining a "GOOD" overall financial health score.
Following this transaction, Reents now holds 11,577 shares directly. The sale was documented in a Form 4 filing, which is required for company insiders to disclose their transactions in company stock. For deeper insights into insider trading patterns and comprehensive analysis, investors can access the full AbbVie Pro Research Report, available exclusively on InvestingPro.
In other recent news, AbbVie has made several notable announcements impacting its future growth prospects and financial outlook. Erste Group upgraded AbbVie’s stock rating from Hold to Buy, driven by the company’s strong sales growth forecast and promising pipeline of new products. AbbVie anticipates annual sales growth in the high single-digit percentage range through 2029, with projected earnings per share for 2025 between $12.12 and $12.32. Berenberg, while maintaining a Hold rating, increased the price target for AbbVie shares from $165.00 to $195.00, reflecting revised earnings forecasts due to stronger-than-expected immunology sales.
In another development, BMO Capital Markets reaffirmed its Outperform rating and a price target of $215.00 for AbbVie, following a licensing agreement with Gubra for a long-acting Amylin analogue, GUB14295, currently in phase 1 development. This agreement involves an upfront payment of $350 million, with potential milestone payments of up to $1.875 billion. Bernstein SocGen Group also maintained its Market Perform rating and $203.00 price target for AbbVie, highlighting the strategic significance of the Gubra deal as AbbVie enters the obesity treatment market. This move is seen as a diversification strategy in light of upcoming patent expirations for key drugs Rinvoq and Skyrizi in 2033. These recent developments underscore AbbVie’s strategic efforts to expand its product portfolio and secure long-term growth.
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