New to Investing? These Are 3 Solid Blue Chip Stocks You Can Build Your Portfolio Around

Getting started with investing can be overwhelming. There are many solid stocks to choose from, but also many risky ones you'll probably be better off avoiding. The good news is that you don't have to do a lot of digging to find quality stocks.

Some of the best blue chip stocks to own are already big names within their respective industries. Three blue chip stocks that can be great for new investors to get started with and to build their portfolios around are Amazon (NASDAQ: AMZN), Coca-Cola (NYSE: KO), and Eli Lilly (NYSE: LLY).

Here's why these stocks can be excellent investments to buy and hold for years.

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1. Amazon

Amazon is one of the best growth stocks you can buy, as it can be a suitable option for any type of investor. The tech company's relentless pursuit of growth and expansion is what makes it a compelling buy, even despite its seemingly high $2.3 trillion market cap. The truth is that there's still plenty of growth on the table for the company in the years ahead.

While its healthcare business hasn't exactly been taking off and being a huge part of its operations, Amazon has the potential to be a big disruptor in that sector. One example of that is its recent launch of prescription vending machines, which will make it easy for people to pick up their medications at One Medical clinics.

Then there's the company's driverless taxi business, Zoox, which is in its early stages -- it went live in Las Vegas just last month. And of course, there are some fantastic opportunities in tech and through artificial intelligence (AI), which can propel Amazon's business to even greater heights. AI can make Amazon's warehouses significantly more efficient and enhance the online shopping experience for its customers.

There are simply too many growth opportunities to list when it comes to Amazon, which is why I don't doubt this business can be a lot more valuable in the future. It's the perfect type of long-term investment to hold. Not only is it full of growth potential, it's a safe business to invest in as well. In the past four quarters, the company has generated a staggering $70.6 billion in profit.

2. Coca-Cola

Another blue chip stock to consider is Coca-Cola, which is a longtime favorite of billionaire investor Warren Buffett. The simplicity of the company's operations is what makes this a solid, no-brainer option to hang on to. Despite all the innovation in the world and all the AI, Coca-Cola's beverage products remain in high demand.

The biggest risk for the business is adapting to changing consumer tastes, and Coca-Cola has succeeded in doing that. Its Zero Sugar products are now key parts of its business. Coca-Cola has also expanded into prebiotic soda, tea, coffee, and water products. With a growing portfolio of consumer beverage products, Coca-Cola is in a great position to grow and do well for the foreseeable future.

Coca-Cola has reported $12.2 billion in net income over the trailing 12 months, with high net margins of 26%. It has strong fundamentals that can support not only its long-term growth but also its dividend, which yields 3%. The Dividend King has been increasing that yield for 63 consecutive years.

3. Eli Lilly

Rounding out this list of terrific blue chip stocks is Eli Lilly. The healthcare company is another example of a business that's focused on continued growth. It's already a leader in the GLP-1 drug space with a couple of approved products in Mounjaro (diabetes) and Zepbound (weight loss). But CEO David Ricks said last year that the goal was to "exploit" its lead.

Eli Lilly certainly hasn't been letting up, as it may have a GLP-1 pill that's available next year. Unlike the current injectable treatments on the market, a pill will be easier for people to take, and it could be yet another massive growth catalyst for this business.

Eli Lilly's pipeline features dozens of phase 3 trials in progress, and even more products in development that are in earlier stages. The tremendous growth opportunities the company possesses make it one of the best growth stocks to own in the healthcare sector.

Like Coca-Cola, Eli Lilly's profit margin is around 26%. With strong growth prospects and high margins, it may only be a matter of time before the company joins the trillion-dollar club. It also makes for an underrated income investment. Its yield may seem modest at 0.7%, but it has increased its payout by 15% in each of the past seven years.

David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon. The Motley Fool has a disclosure policy.