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As economic uncertainty lurks and concerns about inflation persist, many investors are turning their attention to blue-chip stocks that have historically proven to be resilient.
One of the best things you can do as an individual investor is create a list of blue-chip stocks that smart investors gravitate toward. In this case, the best thing to do is to carefully monitor the active activity of the funds.
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These five blue-chip stocks have the highest number of hedge fund investors.
Microsoft Corporation
Number of hedge fund investors: 306
Microsoft has established itself as a top choice among elite hedge funds and has delivered impressive performance.
The company’s financial performance for the second quarter of the previous fiscal year was GAAP earnings per share (EPS) of $2.93, which exceeded expectations by $0.16, and sales increased significantly by 17.7% year over year. 62.02 billion, exceeding expectations. Increased by $890 million.
At the end of the third quarter, 306 hedge funds had investments in Microsoft.
Amazon.com Inc.
Number of hedge fund investors: 286
E-commerce giant Amazon.com plays a pivotal role in the Bridgeway Blue Chip ETF, which is at the center of the investment portfolios of the world’s billionaires.
The company’s fourth quarter results were strong, with EPS of $1, significantly beating estimates of $0.80.
Quarterly sales rose 13.9% year over year to $170 billion, beating expectations by $3.74 billion.
Meta Platforms Co., Ltd.
Number of hedge fund investors: 234
Meta Platformes Inc. is the 3rd most popular blue chip stock in hedge fund investing. The company is on a growth trajectory, as evidenced by its unexpectedly strong fourth quarter results, which included a 25% year-over-year revenue increase. The announcement of an initial dividend of $0.50 per share was greeted with enthusiasm from investors.
Meta expects first-quarter 2024 sales of $34.5 billion to $37 billion, beating analyst consensus of $33.87 billion.
Alphabet Co., Ltd. Class A
Number of hedge fund investors: 221
Alphabet Class A is recognized for its potential by top asset managers. The company is strategically investing billions of dollars to strengthen its artificial intelligence (AI) capabilities and position itself to compete with the likes of Microsoft.
The company’s diverse portfolio, which includes cloud businesses and YouTube, positions Alphabet Inc. Class A as an undervalued investment opportunity, according to multiple financial analysts.
Nvidia Inc.
Number of hedge fund investors: 180
Nvidia Corp. is recognized as one of the most attractive blue-chip stocks, attracting attention from both institutional and retail investors.
The stock has soared about 216% in the last year, and experts suggest that AI-related growth opportunities could push the stock even higher.
At the end of the September quarter, 180 hedge funds owned Nvidia stock, with Rajiv Jain’s GQG Partners holding the largest stake, valued at $6.1 billion.
Hedge funds and individual investors alike find comfort in investing in these blue-chip stocks.
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The article Hedge funds are investing heavily in these blue-chip stocks — should you follow suit? originally appeared on Benzinga.com
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