Blue-chip stocks refer to shares of well-established, financially stable, and reputable companies. These companies generally have a long track record of consistent performance, strong market presence, and reliable dividend payouts. These companies are typically industry leaders and represent a relatively low-risk investment option for investors. This is because they possess solid financial fundamentals and have proven their ability to weather economic downturns. Blue-chip stocks are often included in major market indices, such as the Dow Jones Industrial Average or the S&P 500, giving investors an insight into the overall health of the market.
Investing in blue-chip stocks can be a wise strategy for those seeking a balance between capital appreciation and income generation. As these companies often provide steady dividend payouts in addition to the potential for stock price growth. While blue-chip stocks may not deliver the high returns associated with high-growth or speculative investments, they offer a degree of stability and predictability that can be attractive to risk-averse investors or those looking to preserve wealth over the long term. With that in mind, here are blue chip stocks worth watching in the stock market right now.
Blue Chip Stocks To Buy [Or Avoid] Right Now
- Target Corporation (NYSE: TGT)
- Costco Wholesale Corporation (NASDAQ: COST)
- Visa Inc. (NYSE: V)
Target (TGT Stock)
Leading off, Target Corporation (TGT) is a prominent American retail company, offering a wide range of products, such as clothing, electronics, and home goods, both in-store and online.
Last month, Target announced its most recent quarterly cash dividend. In detail, the company’s Board of Directors approved a quarterly dividend of $1.08 per common share. Moreover, this dividend will be paid on June 10, 2023, to shareholders who hold the stock at the close of business on May 17, 2023. This upcoming payment marks the 223rd consecutive dividend issued by Target since the company went public in October 1967.
Year-to-date, Target stock has increased by 4.34% so far. With that, during Wednesday’s trading session, shares of TGT stock are trading higher on the day so far by 0.43% at $158.31 per share.
[Read More] 3 Cyclical Stocks For Your April 2023 Watchlist
Costco Wholesale (COST Stock)
Next, Costco Wholesale Corporation (COST) operates a chain of membership-only warehouse clubs that provide a diverse selection of merchandise, including groceries, electronics, and home furnishings, at competitive prices.
Just last week, Costco announced an increase in its quarterly cash dividend. Diving in, the company reported that its Board of Directors approved an increase in its quarterly cash dividend from $0.90 to $1.02 per share on common stock. The dividend will be payable on May 19, 2023, to stockholders of record on May 5, 2023.
Since the start of 2023, shares of COST stock have surged by 10.48% year-to-date. Meanwhile, on Wednesday COST stock is trading at $500.78 a share.
[Read More] 3 Top Dividend Stocks For Your Late April 2023 Watchlist
Visa (V Stock)
Finally, Visa Inc. (V) is a leading global payments technology company that enables electronic fund transfers through its extensive network of credit, debit, and prepaid cards.
Just yesterday, Tuesday, Visa announced better-than-expected second-quarter 2023 financial results. Specifically, the company notched in earnings of $2.09 per share, with revenue of $8.0 billion. This is in comparison with analysts’ consensus estimates for the quarter which were earnings of $1.97 per share, on revenue estimates of $7.8 billion. As a result, Visa reported that revenue increased by 11.1% versus the same period, the previous year.
In 2023 year-to-date, Visa stock has advanced by 10.75% so far. Aside from that, on Wednesday, shares of V stock are trading flat on the day so far at $229.47 a share.
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