5 Best Blue Chip Dividend Stocks Hedge Funds Are Buying

3. JPMorgan Chase & Co. (NYSE: JPM)

Number of Hedge Fund Holders: 111
Dividend Yield: 2.32%
Number of Years of Consistent Dividend Growth: 10

JPMorgan Chase & Co. (NYSE: JPM) is a global financial services company operating through four segments, namely Consumer & Community Banking, Corporate & Investment Banking, Commercial Banking, and Asset & Wealth Management. It ranks 3rd on our list of the best blue chip dividend stocks hedge funds are buying.

This July, Credit Suisse raised its price target on JPMorgan Chase & Co. (NYSE: JPM) from $170 to $177, keeping an Outperform rating on the shares. Analyst Susan Roth Katzke commented that the company’s Q2 EPS was well about her $2.85 estimate and even the estimate of Visible Alpha consensus ($3.18).

In the second quarter of 2021, JPMorgan Chase & Co. (NYSE: JPM) had an EPS of $3.78, beating estimates by $0.62. The company’s revenue was $30.48 billion, also beating estimates by $762.45 million. JPMorgan Chase & Co. (NYSE: JPM) has also gained 11.89% in the past 6 months and 23.24% year to date.

By the end of the first quarter of 2021, 111 hedge funds out of the 866 tracked by Insider Monkey held stakes in JPMorgan Chase & Co. (NYSE: JPM) worth roughly $5.25 billion. This is compared to 112 hedge funds in the previous quarter with stakes worth about $6.96 billion.