Blue chip stocks are the foundation of any well-diversified portfolio. These are shares of large, established companies that have a history of stable growth and profitability. Blue chip stocks are typically less volatile than smaller, less established companies. This means they are less likely to experience sharp declines in value.
Moreover, blue chip companies tend to pay regular dividends. This provides investors with a source of income even when the markets are down. While blue chip stocks may not offer the same upside potential as more speculative investments, they offer a higher degree of safety and stability. For these reasons, blue chip stocks should form the core of any long-term investment strategy. With this in mind, check out these two trending blue chip stocks in the stock market now.
Blue Chip Stocks To Invest In [Or Sell] Right Now
Cigna Corporation (CI Stock)
Cigna Corporation (CI) is a large American health insurance company, that provides individual and group health insurance as well as related products and services. Additionally, Cigna plans are offered through employers, through government programs such as Medicare and Medicaid, and directly to consumers. Cigna also offers add-on products such as dental, vision, life, and disability insurance. Currently CI offers its shareholders an annual dividend yield of 1.52%.
Moreover, the company recently announced the date it will be releasing its third-quarter 2022 financial results. In detail, Cigna announced it will will be reporting its third quarter 2022 financial results on Thursday, November 3, 2022, before the U.S. market opens. What’s more, in the company’s second quarter 2022 financial results news release, Cigna said it expects third quarter earnings of at least $6.22 per share. Meanwhile, Wall Street consensus earnings estimate is $5.80 per share for Q3 2022.
Aside from that, year-to-date shares of CI stock are up over 26% outperforming the broader markets in 2022 so far. Also, Cigna stock is set to open this week’s trading session at $295.30 a share.
[Read More] 3 Meme Stocks To Watch Today
Verizon Communications (VZ Stock)
Next up, Verizon Communications (VZ) is an American telecommunications and media conglomerate. For a sense of scale, as of July 22nd, 2022, the company operates approximately 1,500 retail locations. Also, its Verizon Consumer Group has more than 115 million retail connection users. Currently, Verizion shareholders enjoy an annual dividend yield of 6.30%.
The company announced last month that they will be reporting their Q3 2022 financial results. Specifically, Verizon said it will release the results on Friday, October 21, 2022 before the stock market opens. While we wait for those, let’s recap how VZ did in the second quarter of 2022.
Back in July, the company reported weaker-than-expected second-quarter 2022 financial results. Diving in, Verizion reported Q2 2022 earnings of $1.31 per share, along with revenue of $33.8 billion. This was compared to consensus estimates for the second quarter, which were earnings of $1.34 per share with revenue of $33.8 billion. Going into this week’s trading session, shares of VZ stock look to open Monday at $36.38 a share.