Flick through three US blue-chip stocks in February

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 Flick through three US blue-chip stocks in February
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  • American Express Company posted net income US$ 1.9 billion in Q3 2022.
  • Johnson & Johnson posted Q3 2022 sales growth of US$ 23.8 billion.
  • Broadcom posted Q4 2022 net income of US$ 3,359 million.

Blue chip stocks belong to well-known and top companies that are market leaders in their sectors. These companies form an integral part of the US economy. However, even the blue-chip companies suffered from market volatility over the past year.

Blue-chip companies are also known to provide regular dividends to shareholders. Here, we look at three blue chip stocks and analyze their performance in the latest quarters:

American Express Company (NYSE: AXP)

American Express is a US financial services MNC specializing in payment cards.

The New York-based company is one of the 30 components of the Dow Jones Industrial Average. Amex paid a quarterly dividend of US$ 0.52 per share with a dividend yield of 1.351 per cent.

In the third quarter of 2022, American Express posted a net income of US$ 1.87 billion or US$ 2.47 per share, compared to US$ 1.82 billion or US$ 2.27 per share, in the year-ago quarter.

The Q3 2022 consolidated total revenues net of interest expense of Amex were US$ 13.55 billion, an increase of 24 per cent from US$ 10.9 billion a year ago. The increase was mainly propelled by higher Card Member spending.

The AXP stock gained 5.6 per cent in the last 30 days.

Johnson & Johnson (NYSE: JNJ)

Johnson & Johnson, founded in 1886, is a US multinational corporation that develops pharmaceuticals, medical devices, and consumer packaged goods.

The multinational company posted Q3 2022 sales growth of 1.9 per cent to US$ 23.79 billion.

The company saw a 21.6 per cent jump in its net income in the third quarter of 2022 to US$ 4,458 million compared to US$ 3,667 million in the year-ago quarter.

The diluted EPS in the reported quarter was US$ 1.68 versus US$ 1.37 in the same period a year earlier.

The JNJ stock gained 2.09 per cent YoY.

Broadcom Inc. (NASDAQ: AVGO)

Broadcom is a global tech company based in San Jose, California. It designs, develops, and supplies infrastructure software solutions and semiconductors worldwide.

In this fourth quarter results of fiscal 2022, Broadcom reported cash from operations of US$ 4,583 million, minus capital expenditures of US$ 122 million resulting in US$ 4,461 million of free cash flow.

The company also declared an increase in its quarterly common stock dividend by 12 per cent to US$ 4.6 compared to the third quarter of 2022.

The net revenue of Broadcom in Q4 2022 was US$ 8,930 million compared to US$ 7,407 million in the year-ago quarter. The net income in the fourth quarter was US$ 3,359 million, versus US$ 1,989 million in the same period in 2021.

The company also stated a Q1 2023 adjusted EBITDA guidance of approximately 63 per cent of projected revenue.

Broadcom Inc. Q4 revenue and net incomeSource: ©2023 Krish Capital Pty. Ltd; © Canva Creative Studio via Canva.com

Bottom line

When the market is bearish, one can take the long-term route and diversify the portfolio. Before taking any decision, do thorough research on the stocks. Also, remember that in a volatile market condition, a stock’s past performance cannot assure future gains.


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