Investing in the stock market offers individuals the opportunity to own a share of a company’s assets and earnings. It’s a way to grow wealth over time, though it comes with varying levels of risk. Stock market investments range from individual stocks and bonds to mutual funds and ETFs. An investor’s choice depends on their financial goals, risk tolerance, and investment horizon. The stock market can offer high returns, but it’s important to remember that it also involves the risk of losing capital.
Blue-chip stocks are shares of large, well-established, and financially sound companies with a history of reliable performance. These companies often have a long track record of paying dividends and are known for their stable earnings and strong management. Investing in blue-chip stocks is considered a safer bet in the stock market. They are less volatile during market downturns. However, the downside is that these stocks typically offer lower growth potential compared to emerging companies. They might not match the high returns of riskier investments.
For investors, blue-chip stocks can provide a solid foundation for a diversified portfolio. They are particularly attractive for conservative investors or those nearing retirement. Investors should also stay informed about market trends and the financial health of blue-chip companies. This helps in making informed investment decisions. Considering this, let’s look at three blue-chip stocks to watch in the stock market today.
Blue Chip Stocks To Invest In [Or Avoid] Now
- The Procter & Gamble Co. (NYSE: PG)
- International Business Machines Corporation (NYSE: IBM)
- Johnson & Johnson (NYSE: JNJ)
Procter & Gamble Co. (PG Stock)
To begin, Procter & Gamble (PG), often known as P&G, is a leading consumer goods company with a vast portfolio of trusted brands. P&G’s product range includes well-known names in personal care, household cleaning, and hygiene products, such as Tide, Pampers, and Gillette.
Earlier this month, Procter & Gamble reported a beat for its Q2 2024 financial results. In the quarter, the company posted an EPS of $1.84 per share, on revenue of $21.44 billion. This is versus Wall Street’s consensus estimates for the quarter were earnings of $1.70 per share, with revenue estimates of $21.68 billion.
In 2024 thus far, shares of PG stock have increased by 5.22% year-to-date. Meanwhile, during Tuesday morning’s trading action, Procter & Gamble Co. stock opened higher by 0.22%, currently trading at $156.51 a share.
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IBM Corporation (IBM Stock)
Next, IBM, or International Business Machines Corporation (IBM), is a multinational technology and consulting company. IBM specializes in a wide range of technology and consulting services, including cloud computing, artificial intelligence, and cybersecurity.
This month, IBM announced better-than-expected fourth-quarter 2023 financial results. Getting right into it, the company notched in earnings per share of $3.87 versus estimates of $3.87 per share. As well as reporting revenue of $17.38 billion for the quarter, versus estimates of $15.70 billion.
Year-to-date, shares of IBM stock have surged by 16.14% so far. While, during Tuesday morning’s trading session, IBM stock opened green up 0.22%, trading at $187.60 a share.
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Johnson & Johnson (JNJ Stock)
Finally, Johnson & Johnson (JNJ) is a multinational corporation known for its wide range of medical devices, pharmaceutical products, and consumer packaged goods. Today, the company is one of the world’s largest healthcare companies. Its products include household names like Band-Aid, Tylenol, and Johnson’s baby products.
Moving along, earlier this month Johnson & Johnson also announced better-than-expected Q4 2023 financial results. Diving in, the company notched in earnings of $2.29 per share, with revenue of $21.40 billion. This is versus analysts’ consensus estimates which were earnings per share of $2.27 per share, with revenue estimates of $20.99 billion.
In 2024 so far, shares of JNJ stock have dropped modestly by 0.99% year-to-date. Moreover, during Tuesday morning’s trading session, Johnson & Johnson stock is trading slightly lower on the day by 0.61% at $158.38 a share.
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