Kevin K. Buckbee, Senior Vice President and Controller at AbbVie Inc . (NYSE:ABBV), recently sold 1,800 shares of the company's common stock. The transaction, which took place on December 16, 2024, was executed at a price of $172.24 per share, totaling approximately $310,032. AbbVie, a prominent player in the biotechnology industry with a market capitalization of $307 billion, has demonstrated strong financial health according to InvestingPro analysis. Prior to the sale, Buckbee acquired the same number of shares through an option exercise at a price of $93.50 per share, valued at $168,300. Following these transactions, Buckbee holds 6,983 shares of AbbVie stock directly. The company has raised its dividend for 12 consecutive years, currently offering a 3.74% yield. InvestingPro subscribers can access detailed insider trading patterns and 8 additional key insights about ABBV's financial performance.
In other recent news, pharmaceutical company AbbVie has seen a series of significant developments. Piper Sandler recently uplifted AbbVie's share price target to $220, maintaining an Overweight rating due to promising outlooks for its drugs Skyrizi and Rinvoq. Meanwhile, AbbVie has announced the acquisition of Nimble Therapeutics for $200 million, aiming to leverage Nimble's expertise in developing treatments for serious health conditions.
The company also completed the acquisition of Aliada Therapeutics, adding ALIA-1758, a potential Alzheimer's disease therapy, to its neuroscience pipeline. TD Cowen has named AbbVie as a top pick for 2025, maintaining a positive stance on the company with a buy stock rating. Leerink Partners also upgraded AbbVie's stock to Outperform, citing strong revenue and earnings per share growth.
AbbVie's Q3 revenues reached nearly $14.5 billion, surpassing expectations with an operational growth of 4.9%. The company raised its full-year revenue guidance by $500 million and adjusted EPS guidance to $10.90-$10.94. Additionally, AbbVie reported positive results from its Phase 3 TEMPO-2 trial of tavapadon, a potential treatment for early Parkinson's disease. These are the latest developments in the company's ongoing advancements and growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.