Stock market today: S&P 500 hits fresh record close on stronger economic growth
Jeffrey Ryan Stewart, the Executive Vice President and Chief Commercial Officer of AbbVie Inc . (NYSE:ABBV), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Stewart sold a total of 58,832 shares on March 31, 2025. The transaction comes as AbbVie, currently valued at $362 billion, trades near its 52-week high of $218.66 and has delivered an impressive 17% return year-to-date. The transactions were executed in two blocks, with prices ranging from $209.49 to $210.54 per share, resulting in a total sale value of approximately $12.36 million.
In addition to the sales, Stewart also exercised options to acquire 25,700 shares at a price of $79.02 each, which were then sold as part of the transactions mentioned above. Following these transactions, Stewart’s direct holdings in AbbVie were reduced to 53,234 shares.
In other recent news, AbbVie has captured attention with several developments. Erste Group upgraded AbbVie’s stock rating from Hold to Buy, attributing this to the company’s robust sales growth forecast and promising pipeline of new products. AbbVie has confirmed expectations of high single-digit annual sales growth through 2029 and anticipates a significant increase in earnings per share for 2025. Additionally, Berenberg raised AbbVie’s price target from $165 to $195, maintaining a Hold rating, following a review of the company’s 2024 annual report, which showed stronger-than-expected immunology sales.
BMO Capital Markets reaffirmed their Outperform rating on AbbVie with a $215 price target, highlighting a new licensing agreement with Gubra. This deal involves an upfront payment of $350 million and potential milestone payments, indicating AbbVie’s strategic move to expand its treatment portfolio. The agreement grants AbbVie rights to Gubra’s Amylin analogue, GUB14295, currently in phase 1 development.
Furthermore, AbbVie is actively pursuing innovative therapies, as shown by its recent financial commitment to Gubra’s drug candidate. These developments reflect AbbVie’s ongoing efforts to strengthen its financial position and enhance its competitive edge in the pharmaceutical industry.
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