5 Best Blue Chip Stocks Under $100

In this article, we will take a look at the 5 best blue chip stocks under $100. To see more such companies, go directly to 13 Best Blue Chip Stocks Under $100.

5. The Charles Schwab Corporation (NYSE:SCHW)

Number of Hedge Fund Holders: 88

The Charles Schwab Corporation (NYSE:SCHW) ranks 5th in our list of the best blue chip stocks under $100 according to hedge funds.

As of the end of the second quarter of 2023, 88 hedge funds tracked by Insider Monkey reported owning stakes in The Charles Schwab Corporation (NYSE:SCHW). The biggest hedge fund stakeholder of The Charles Schwab Corporation (NYSE:SCHW) during this period was Natixis Global Asset Management’s Harris Associates which owns a $1.1 billion stake in the company.

ClearBridge Large Cap Value Strategy made the following comment about The Charles Schwab Corporation (NYSE:SCHW) in its Q2 2023 investor letter:

“We have done so recently with The Charles Schwab Corporation (NYSE:SCHW), which got caught up in investor concerns over regional banks, due to the perception of an asset/liability mismatch on Schwab’s balance sheet. While there are similarities with regional banks, Schwab has minimal credit risk and far higher organic growth than traditional banks. In addition, Schwab’s mostly retail customers are not pulling money out of its ecosystem. On the contrary, the company continues to grow client assets at a mid-single-digit percentage rate despite the banking selloff. Concerned over interest rate risk, we trimmed our position last year and earlier this year. As the stock pulled back this spring, we added back aggressively. It remains an exceptionally strong franchise in terms of asset gathering and customer loyalty and runs a unique business model that continues to attract client assets; we are pleased to have the opportunity to express our differentiated view.”