With another month nearly come and gone, it's a good time to take a look at the market and see what's looking hot and what's not.
ASX blue-chip shares can be a safe-and-sound type investment for those investors seeking stability and maybe strong dividend income as well. Here are 2 ASX blue-chip shares that I think would make great buys this November.
Wesfarmers Ltd (ASX: WES)
Wesfarmers is perhaps the most diversified business on the ASX. This conglomerate owns Kmart, Bunnings and Target as well as a collection of smaller niche businesses. These include everything from gas, mining and clothing lines to chemical and fertiliser manufacturing. Throw in a 15% stake in Coles Group Ltd (ASX: COL) and you have a very compelling investment.
Wesfarmers is trading at record highs today, but with such a robust business giving off a forward yield of 5.2% grossed-up, I think it might be worth the price.
Woolworths Group Ltd (ASX: WOW)
You might have heard some negative stories about Woolworths underpaying their staff in the last few days, but I think this business is still one of the best blue-chips on the ASX today. Woolworths is the pick of the grocery bunch in my view, as it seems to be holding its market share well in the face of fierce competition from both Coles and Aldi. Its recent promotional range of Lion King toys and garden plants has also been impressive, taking the wind out of the sails of Coles' Little Shop 2.
The company's plans to spin-off its drinks business in the coming year will also create a lot of shareholder value in my view. Woolworths is currently offering a 3.89% grossed-up dividend yield.
Foolish takeaway
I think both of these ASX blue-chips are fantastic businesses that would serve well in any investing portfolio. Although both companies are not cheap at the moment, sometimes you have to pay a premium for quality, yield and stability on the sharemarket.
