In this article, we discuss 5 best blue chip stocks that outperformed in 2022. If you want to see more best blue chip stocks that outperformed in 2022, the risk/reward, and methodology of this list, go directly to 12 Best Blue Chip Stocks That Outperformed in 2022.
5. Chevron Corporation (NYSE:CVX)
Year to Date Return as of December 13: 45.51%
Number of Hedge Fund Holders: 66
Chevron Corporation (NYSE:CVX) is the best performing Dow Jones Industrial Average stock in 2022 given its year to date surge of 45.51%. Chevron Corporation (NYSE:CVX) has outperformed the market given higher oil and gas prices as a result of the Russian Ukraine war. If there is a recession next year, however, oil demand might not be as strong as expected. If oil and gas prices go lower, Chevron Corporation (NYSE:CVX) stock might be riskier than some other stocks on this list.
66 hedge funds in our database owned shares in Chevron Corporation (NYSE:CVX) at the end of the third quarter.
4. Walmart Inc. (NYSE:WMT)
Year to Date Return as of December 13: 1.96%
Number of Hedge Fund Holders: 68
Although retailing giant Walmart Inc. (NYSE:WMT) stock has only rallied 1.96% year to date, many investors nevertheless view the performance as pretty good given the stock of the company’s competitor, Amazon.com, Inc. (NASDAQ:AMZN), has declined nearly 46% year to date. While Amazon.com, Inc. (NASDAQ:AMZN) has faced headwinds given inflation, Walmart Inc. (NYSE:WMT) has gained more customers as a result of the inflation given the company’s low prices.
For Q3, Walmart Inc. (NYSE:WMT) reported adjusted EPS of $1.50 on sales of $152.81 billion versus the consensus of $1.32 on revenue of $147.75 billion.
68 hedge funds in our database owned shares of Walmart Inc. (NYSE:WMT) at the end of Q3, ranking the stock #4 on our list of 12 Best Blue Chip Stocks That Outperformed in 2022.
3. Merck & Co., Inc. (NYSE:MRK)
Year to Date Return as of December 13: 44.28%
Number of Hedge Fund Holders: 82
Pharmaceutical giant Merck & Co., Inc. (NYSE:MRK) is the second best performing Dow Jones Industrial Average stock this year given its 44.28% surge in 2022. Investors like Merck & Co., Inc. (NYSE:MRK) given its potential for helping make cancer vaccines in the future which could unlock a huge market.
Investors also like Merck & Co., Inc. (NYSE:MRK) given analysts expect the company’s earnings to increase. In terms of consensus estimates, analysts expect Merck & Co., Inc. (NYSE:MRK) to earn $7.39 per share in 2022, $7.54 per share in 2023 and $8.74 per share in 2024.
2. Johnson & Johnson (NYSE:JNJ)
Year to Date Return as of December 13: 4.47%
Number of Hedge Fund Holders: 85
Healthcare conglomerate Johnson & Johnson (NYSE:JNJ) shares have increased 4.47% year to date as the company continues to grow earnings. For the third quarter, Johnson & Johnson (NYSE:JNJ) earned an adjusted EPS of $2.55 on sales of $23.8 billion versus the consensus of $2.48 on revenue of $23.34 billion.
For FY22, Johnson & Johnson (NYSE:JNJ) sees adjusted EPS of $10.02 to $10.07 versus the prior view of $10.00 to $10.10.
1. UnitedHealth Group Inc. (NYSE:UNH)
Year to Date Return as of December 13: 7.16%
Number of Hedge Fund Holders: 110
Health insurance giant UnitedHealth Group Inc. (NYSE:UNH) ranks #1 on our list of 12 Best Blue Chip Stocks That Outperformed in 2022 given 110 hedge funds in our database held shares at the end of the third quarter. UnitedHealth Group Inc. (NYSE:UNH) shares have risen 7.16% this year given strong earnings.
For Q3, UnitedHealth Group Inc. (NYSE:UNH) reported adjusted EPS of $5.79 on sales of $80.89 billion versus the consensus of $5.42 on revenue of $80.5 billion.
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