5 Blue Chip Stocks to Buy According to Billionaire Ken Fisher

In this article, we will look at 5 blue-chip stocks to buy according to billionaire Ken Fisher. If you want to read about Ken Fisher’s investment philosophy and his hedge fund’s performance, you can go to 10 Blue Chip Stocks to Buy According to Billionaire Ken Fisher.

5. Salesforce, Inc. (NYSE:CRM)

Fisher Asset Management’s Stake Value: $3,234,635,000

Percentage of Fisher Asset Management’s 13F Portfolio: 1.9%

Number of Hedge Fund Holders: 114

Salesforce, Inc. (NYSE:CRM) is best known for its industry-leading CRM platform and cloud-based software applications. As of March 31, Fisher Asset Management owns more than 15.2 million shares of Salesforce, Inc. (NYSE:CRM) which brings its stake in the company to $3.23 billion. The investment covers 1.9% of Ken Fisher’s 13F portfolio and the stock is ranked sixth among Fisher Asset Management’s top 13F holdings. Salesforce, Inc. (NYSE:CRM) is one of the best blue-chip stocks to buy according to billionaire Ken Fisher.

On June 2, Loop Capital analyst Yun Kim cut his price target on Salesforce, Inc. (NYSE:CRM) to $175 from $225 and reiterated a Hold rating on the shares.

On May 31, Salesforce, Inc. (NYSE:CRM) announced earnings for the fiscal first quarter of 2023. The company reported earnings per share of $0.98 and exceeded estimates by $0.04. Moreover, the company’s revenue for the quarter came in at $7.41 billion, up 24.28% year over year, and outperformed Wall Street consensus by $29.45 million.

At the end of Q1 2022, 114 hedge funds held stakes in Salesforce, Inc. (NYSE:CRM). This is compared to 110 hedge funds in Q4 2021.

Vulcan Value Partners mentioned Salesforce, Inc. (NYSE:CRM) in its first-quarter 2022 investor letter. Here is what the firm said:

“Salesforce.com Inc. is the dominant provider of customer relationship management software and technology. Salesforce has high retention rates, pricing power, high free cash flow, and a competitive moat. The company continues to execute well. Margins decreased slightly during the fourth quarter but continue to be on path for material expansion over the long term. Salesforce is seeing increased spending as employees are returning to the office, and we believe the global pandemic has only improved its prospects.”