5 Blue Chip Stocks to Buy According to Billionaire Bruce Kovner’s Caxton Associates

In this article, we discuss 5 Blue Chip Stocks to Buy According to Billionaire Bruce Kovner’s Caxton Associates. If you want to read our detailed analysis of the hedge fund’s performance and investment strategy, as well as the risk/reward and methodology of this list, go directly to read 10 Blue Chip Stocks to Buy According to Billionaire Bruce Kovner’s Caxton Associates.

5. Cisco Systems, Inc. (NASDAQ:CSCO)

Stake Value in Caxton Associates LP’S 13F Portfolio: $1.53 million

Percentage of Caxton Associates LP’S 13F Portfolio: 0.14%

Number of Hedge Funds: 63

Cisco Systems, Inc. (NASDAQ:CSCO) is a global telecommunications corporation that creates and markets networking gear, software, and other products. During Q2 2022, Caxton Associates LP boosted its stake in the company by 288%, purchasing nearly 35,986 shares. The fund’s total stake in the company amounted to roughly $1.53 million, which represented 0.14% of its 13F portfolio. As a result, Cisco Systems, Inc. (NASDAQ:CSCO) is ranked #5 in our list of 10 Blue Chip Stocks to Buy According to Billionaire Bruce Kovner’s Caxton Associates.

For Q2 2022, Cisco Systems, Inc. (NASDAQ:CSCO) reported revenue of $13.01 billion and an adjusted EPS of $0.83 and in August 2022, the company declared a quarterly dividend of $0.38 per share.

Analysts like the stock. In August, Jackson Chiang, an analyst with KGI Securities, raised Cisco Systems, Inc. (NASDAQ:CSCO) from Neutral to Outperform with a $53 price target.

Many hedge funds like the stock too. Out of the 895 funds in our database, 63 owned the stock at the end of Q2. Among them, Citadel Investment Group is a leading shareholder in Cisco Systems, Inc. (NASDAQ:CSCO) with over 7.8 million shares worth $334.29 million.