AbbVie stock is up 20% YTD: is it out of juice now?

By:
on Mar 23, 2022
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  • Shannon Saccocia says AbbVie is a great way to play the healthcare space.
  • Jon Najarian likes the biopharma stock with a 3.50% dividend yield.
  • AbbVie stock hit an all-time high of $161 on Wednesday morning.

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AbbVie Inc (NYSE: ABBV) is already up about 20% for the year but Boston Private’s Shannon Saccocia continues to see more upside in 2022.

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AbbVie is a great way to play the healthcare space

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Saccocia is bullish on the healthcare space at large and sees ABBV as the way to play it. Speaking with CNBC’s Scott Wapner, she said:

It’s a little bit further away from the binary nature of biotech. So, if you’re looking to increase your healthcare exposure, which I think you should in this environment, this is a great stock to own, a great way to play the healthcare space.

In its latest reported quarter, the biopharmaceutical giant noted a 7.4% year-over-year growth in its revenue.

Jon Najarian agrees with the bullish outlook

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Among other notable shareholders that endorse owning AbbVie is MarketRebellion.com’s Jon Najarian. On the same CNBC interview, he said:

I like it. 3.5% dividend yield. So, you’re getting paid to wait. They’re presenting at several big conferences. Any good news could spike the stock. A lot of people that are working at AbbVie seem pretty bullish. So, I like the company.

In January, Mizuho’s Vamil Divan said the loss of Humira patent was unlikely to be a headwind for AbbVie. In fiscal Q4, Humira accounted for 38.4% of the company’s total revenue.

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