If you're interested in bolstering your portfolio with some blue chip shares, then I would suggest you consider the four listed below.
Here's why I think they are quality options for blue chip investors:
BHP Group Ltd (ASX: BHP)
I believe that BHP would be a great blue chip option for investors. I think the Big Australian is the standout option in the resources sector thanks to its world class, low cost, and diverse operations and the strong free cash flows they generate.
Commonwealth Bank of Australia (ASX: CBA)
With Commonwealth Bank's shares down 35% from their 52-week high, I think now could be an opportune time to invest. Especially given how the banking giant appears to have got all the bad news out of the way now following its third quarter update this week. And while trading conditions remain tough, I believe things will improve in 2021 and a return to growth could follow soon after.
Telstra Corporation Ltd (ASX: TLS)
Another company which I believe isn't far off a return to growth is Telstra. Times have been hard for the telco giant, but things are starting to look positive now. This is due to its T22 strategy, the easing of the NBN rollout headwinds, increasing data consumption, and the arrival of 5G internet. Another positive is that its free cash flows appear sufficient to support its current dividends. This could mean the cuts are over.
Woolworths Limited (ASX: WOW)
A final blue chip to consider buying is this retail conglomerate. I think its strong brands, entrenched customer base, and non-discretionary nature makes for a very defensive business model. This should ensure that it continues growing its earnings and dividends over the next decade no matter what happens in the economy post-pandemic.
