15 Best Blue Chip Stocks to Buy Now

9. Merck & Co. Inc. (NYSE:MRK)

No of Hedge Funds: 80

Total Value of Hedge Fund Holdings:  $6 Billion

Merch & Co. Inc. is considered one of the largest pharmaceutical companies in the world. During the pandemic, they have contributed and committed more than $30 million in support of the global, national, and local Covid-19 response efforts.

During the third quarter of 2020 worldwide sales were $12.6 billion or an increase of 1%.

The company is so influential even Warren Buffet, one of the wealthiest man in the world with an estimated net worth of $88.5 billion as of November 27 invested in it. Click here to see the Top 5 Stocks Warren Buffet Just Bought. It was mentioned that:

“Merck shares have sunk by 13% in 2020, but the stocks looks promising bounce back candidate in 2021. The majority of the company’s drug need to be administered in person, which has heavily impacted results this year given that treatment of all but the most serious conditions is being deferred during the pandemic. Sales of cancer drug Keytruda, one of its most important assets, surges 21% year-over-year in Q3, putting Merck in a good position once some of its other drugs can be deployed more frequently again by doctors.”

8. Johnson & Johnson (NYSE:JNJ)

No of Hedge Funds: 82

Total Value of Hedge Fund Holdings:  $4 Billion

Johnson & Johnson is an American multinational company is known to be one of the most valuable companies, providing pharmaceutical and consumer packaged goods.

For this stock, the top hedge holder is Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital with more than $1 billion invested in the stock at the end of September.

During the third quarter of 2020, Johnson and Johnson reported adjusted earnings of $2.20 per share. The company generated $21.08 billion in revenue.