5 Blue Chip Stocks To Buy Now According To Billionaire Andreas Halvorsen

In this piece, we’ll take a look at the 5 Blue Chip Stocks To Buy Now According To Billionaire Andreas Halvorsen. For more stocks, the risk/reward and the methodology of this list, head on to 10 Blue Chip Stocks To Buy Now According To Billionaire Andreas Halvorsen.

5. General Electric Company (NYSE:GE)

Viking Global Investor’s Stake Value: $557,132,000

Percentage of Viking Global Investor’s Portfolio: 2.54%

Number of hedge fund holders: 49

General Electric Company (NYSE:GE) is one of the oldest companies in America and is invested in many sectors such as aviation, power, healthcare, renewable energy and a lot more. Such diversification in investments and the company’s considerable scale makes it a blue chip company. During Q2 2022, Viking Global decreased its stake in General Electric Company (NYSE:GE) by 32%. The fund’s total stake in the company amounted to roughly $557 million, which represented 2.54% of its 13F portfolio.

In terms of analysts, Nicole DeBlase at Deutsche Bank reduced the firm’s price target on General Electric Company (NYSE:GE) to $88 from $90 while maintaining a buy recommendation on the stock. The analyst is “a little surprised” that General Electric Company (NYSE:GE) shares rose in response to the Q2 earnings report, as she expected the market to focus on the 2022/2023 free cash flow guidance-down rather than the better-than-expected Q2 performance.

At the end of Q2 2022, 49 hedge funds tracked by Insider Monkey owned stakes in General Electric Company (NYSE:GE). Eagle Capital Management was the stock’s leading stakeholder in Q2, owning General Electric Company (NYSE:GE) shares worth over $834 million. The fund’s position in the stock decreased by 2% from Q1 2022.