In this piece, we’ll take a look at the 5 Blue Chip Stocks To Buy Now According To Billionaire Andreas Halvorsen. For more stocks, the risk/reward and the methodology of this list, head on to 10 Blue Chip Stocks To Buy Now According To Billionaire Andreas Halvorsen.
5. General Electric Company (NYSE:GE)
Viking Global Investor’s Stake Value: $557,132,000
Percentage of Viking Global Investor’s Portfolio: 2.54%
Number of hedge fund holders: 49
General Electric Company (NYSE:GE) is one of the oldest companies in America and is invested in many sectors such as aviation, power, healthcare, renewable energy and a lot more. Such diversification in investments and the company’s considerable scale makes it a blue chip company. During Q2 2022, Viking Global decreased its stake in General Electric Company (NYSE:GE) by 32%. The fund’s total stake in the company amounted to roughly $557 million, which represented 2.54% of its 13F portfolio.
In terms of analysts, Nicole DeBlase at Deutsche Bank reduced the firm’s price target on General Electric Company (NYSE:GE) to $88 from $90 while maintaining a buy recommendation on the stock. The analyst is “a little surprised” that General Electric Company (NYSE:GE) shares rose in response to the Q2 earnings report, as she expected the market to focus on the 2022/2023 free cash flow guidance-down rather than the better-than-expected Q2 performance.
At the end of Q2 2022, 49 hedge funds tracked by Insider Monkey owned stakes in General Electric Company (NYSE:GE). Eagle Capital Management was the stock’s leading stakeholder in Q2, owning General Electric Company (NYSE:GE) shares worth over $834 million. The fund’s position in the stock decreased by 2% from Q1 2022.
4. Mastercard Incorporated (NYSE:MA)
Viking Global Investor’s Stake Value: $726,331,000
Percentage of Viking Global Investor’s Portfolio: 3.32%
Number of hedge fund holders: 137
Mastercard Incorporated (NYSE:MA) processed about $6 trillion in purchasing transactions in 2021, making it the world’s second-largest payment processor. Mastercard is accepted in over 200 countries and processes transactions in over 150 currencies. During Q2 2022, Viking Global boosted its stake in the company by 29%. The fund’s total stake in the company amounted to roughly $726 million, which represented 3.32% of its 13F portfolio.
In August, James Fotheringham, an analyst at BMO Capital raised the firm’s price target on Mastercard Incorporated (NYSE:MA) to $422 from $402 and maintains an outperform rating on the stock. According to the analyst, the company’s Q2 earnings benefited from higher exposure to cross-border travel recovery and credit while consumer spending remained strong.
At the end of Q2 2022, 137 hedge funds tracked by Insider Monkey owned stakes in Mastercard Incorporated (NYSE:MA). Akre Capital Management was the stock’s leading stakeholder in Q2, owning Mastercard Incorporated (NYSE:MA) shares worth over $1.8 billion. The fund’s position in the stock increased by 1% from Q1 2022.
3. Chubb Limited (NYSE:CB)
Viking Global Investor’s Stake Value: $741,937,000
Percentage of Viking Global Investor’s Portfolio: 3.39%
Number of hedge fund holders: 35
Third on our list of 5 and 10 Blue Chip Stocks To Buy Now According To Billionaire Andreas Halvorsen is insurer Chubb Limited (NYSE:CB). With operations in 54 countries and territories, Chubb Limited (NYSE:CB) is the world’s largest publicly traded P&C insurance company and a blue chip in the financial sector. During Q2 2022, Viking Global increased its stake in the company by 18% to roughly $741 million, which represented 3.39% of its 13F portfolio.
For Q2 2022, Chubb Limited (NYSE:CB) reported revenue of $9.37 billion, a decrease of 8.96% YoY, and a normalized EPS of $4.20, beating the market consensus estimate by $0.57.
Chairman and CEO of Chubb Limited (NYSE:CB) Evan G. Greenberg commented:
“We had an outstanding quarter that reflects the strong momentum in our company: record operating earnings, underwriting and investment results, and double-digit premium revenue growth in constant dollars. Core operating income per share was $4.20, up 16%; P&C underwriting income topped $1.4 billion, up over 21%, with a combined ratio of 84%; and adjusted net investment income was $950 million – all were records.”
At the end of Q2 2022, 35 hedge funds tracked by Insider Monkey owned stakes in Chubb Limited (NYSE:CB). Viking Global was the stock’s leading stakeholder in Q2.
2. Microsoft Corporation (NASDAQ:MSFT)
Viking Global Investor’s Stake Value: $761,033,000
Percentage of Viking Global Investor’s Portfolio: 3.48%
Number of hedge fund holders: 258
Founded in 1975, Microsoft Corporation (NASDAQ:MSFT) is an American multinational technology corporation that operates within the information technology sector. Microsoft (NASDAQ:MSFT) primarily produces and sells personal computing devices, software, cloud system, and services. The company has also expanded into, among many other things, mixed reality, what with its recent investments in Metaverse. During Q2 2022, Viking Global decreased its stake in the company by 11%. The fund’s total stake in the company amounted to roughly $761 million, which represented 3.48% of its 13F portfolio.
Even in this poor macro-economic environment, Microsoft Corporation (NASDAQ:MSFT) managed to surpass $25 billion in quarterly revenue for the very first time in its fourth quarter’s report. The company performed well across all segments, including gaming, LinkedIn, Cloud, security and its most famous product, Windows. According to the management, no company is better positioned than Microsoft Corporation (NASDAQ:MSFT) to help organizations in all industries to help overcome digital challenges.
At the end of Q2 2022, 258 hedge funds tracked by Insider Monkey owned stakes in Microsoft Corporation (NASDAQ:MSFT). Fisher Asset Management was the stock’s leading stakeholder in Q2, owning Microsoft Corporation (NASDAQ:MSFT) shares worth over $7.3 billion. The fund’s position in the stock increased by 3% from Q1 2022.
1. Amazon.com, Inc. (NASDAQ:AMZN)
Viking Global Investor’s Stake Value: $860,822,000
Percentage of Viking Global Investor’s Portfolio: 3.93%
Number of hedge fund holders: 252
Amazon.com, Inc. (NASDAQ:AMZN) is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $578 billion in estimated physical/digital online gross merchandise volume in 2021. During Q2 2022, Viking Global boosted its stake in the company by 1817%. The fund’s total stake in the company amounted to roughly $860 million, which represented 3.93% of its 13F portfolio.
Oakmark Funds, an investment management firm, mentioned Amazon.com, Inc. (NASDAQ:AMZN) in its second quarter of 2022 investor letter. Here’s what they said:
“Amazon (NASDAQ:AMZN) is the leading e-commerce and cloud-computing provider in the world. Two-thirds of U.S. households are Amazon Prime subscribers, and over half of all online product searches now start on Amazon. We believe the company’s strong customer loyalty and massive infrastructure are significant barriers to entry in a growing e-commerce market. Separately, Amazon Web Services (“AWS”) controls nearly half of the market in cloud computing. We believe AWS has become utility-like in nature and scale, and we expect healthy growth moving forward as I.T workloads continue moving to the cloud. More recently, concerns about rising investment spending have weighed on the stock as they have in times past-providing us another opportunity to purchase shares at a very attractive price. At our purchase price and valuing AWS like its peers, an investor isn’t paying much of anything for the immensely valuable e-commerce franchise.”
At the end of Q2 2022, 252 hedge funds tracked by Insider Monkey owned stakes in Amazon.com, Inc. (NASDAQ:AMZN). Fisher Asset Management was the stock’s leading stakeholder in Q2, owning Amazon.com, Inc. (NASDAQ:AMZN) shares worth over $5.1 billion. The fund’s position in the stock increased by 1959% from Q1 2022.
You can also take a look at Harvard University’s Latest Portfolio: 10 Best Biotech Stock Picks and 10 Dividend Stocks to Buy According to Billionaire Stanley Druckenmiller’s Duquesne Capital.
