Jim Cramer Commented on 7 Hard-to-Own Safety Stocks

2. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 85

Calling AbbVie (NYSE:ABBV) one of his “absolute favorites”, Cramer said:

“Or how about one of my absolute favorites right here too, AbbVie. Now here’s a drug company with no patent cliff in sight whatsoever. Got tremendous franchises in neurology, oncology, immunology, and medical aesthetics, among others. Because of today’s vicious bond market-inspired selloff, this fine stock’s down a quick 10 points today or more than 5%, but it only yields 3.7%. With rates going higher, you have to wonder if AbbVie’s worth the risk, even as it’s among the safest, if not the safest stock in the group, because of these amazing franchises.

I think it makes a ton of sense to start a position in the stock right now, if only because of the amazing Skyrizi and Rinvoq immunology drugs, as well as BOTOX, which right now is sainted for those who get too many wrinkles as their skin sags from taking GLP-1s, those are the drugs that combat obesity and diabetes. I don’t know, tempting.”

AbbVie Inc. (NYSE:ABBV) is a drug company that works on discovering, producing, and selling a wide variety of medicines.