Are these the best blue chip shares on the ASX?

A lot of popular blue chip shares such as private hospital operator Ramsay Health Care Limited (ASX: RHC) and conglomerate Wesfarmers Ltd (ASX: WES) have been big disappointments for investors over the last couple of years.

Unfortunately, I’m not overly convinced that things will be any better for those two shares over the next couple of years either.

So rather than buy them, I would focus on the three blue chip shares listed below which I think could be the best on the local market. Here’s why I like them:

BHP Billiton Limited (ASX: BHP)

With the global economy growing strongly, I expect BHP Billiton to benefit greatly from increasing demand for the commodities it produces for at least the next couple of years. This is likely to lead to solid profit growth, putting the mining giant in a position to increase its dividend or repurchase shares. Its shares may have run hard over the last couple of years, but I still believe there is a lot more left in the tank.

Cochlear Limited (ASX: COH)

This leading hearing solutions company could prove to be a great buy and hold investment thanks to ageing populations across the globe. As the global population ages, I believe demand for hearing products will increase significantly. As Cochlear has wide distribution of its highly regarded products, I expect the company could be in a strong position to profit.

CSL Limited (ASX: CSL)

I think CSL is arguably the highest quality company that Australia has to offer. And although its shares have gone gangbusters over the last two years, I don’t for a second believe that it is too late to invest. Thanks to a lucrative pipeline of new products, its growing influenza business, and a strong core business, I believe CSL can continue delivering above-average earnings growth for the foreseeable future.

Looking for more? 3 Explosive Blue Chips To Buy In May

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Cochlear Ltd. and Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now