In this article, we discuss the 5 dividend stocks in Adage Capital’s portfolio. If you want to read our detailed analysis of these stocks, go directly to the 10 Dividend Stocks in Adage Capital’s Portfolio.
5. Pfizer Inc. (NYSE:PFE)
Dividend Yield: 2.82%
Adage Capital Management Stake Value: $247,699,000
Percentage of Adage Capital Management’s 13F Portfolio: 0.48%
Number of Hedge Fund Holders: 74
COVID-19 vaccine maker Pfizer Inc. (NYSE:PFE) has been gaining the attention of investors in recent months. On January 3, the New York-based pharmaceutical company received FDA approval for its COVID-19 booster shots for teenagers aged 12 to 15. The CDC also backed Pfizer Inc.’s (NYSE:PFE) booster shot.
Adage Capital Management re-initiated its position in Pfizer Inc. (NYSE:PFE) in the third quarter of 2021 and bought 5.76 million shares of the company worth $248 million. At the end of the third quarter of 2021, 74 hedge funds in the database of Insider Monkey held stakes worth $2.7 billion in Pfizer Inc. (NYSE:PFE), up from 67 in the previous quarter worth $2.36 billion.
On January 5, BofA analyst Geoff Meacham upgraded his rating on Pfizer Inc. (NYSE:PFE) to Buy from Neutral and expressed his bullishness on the drugmaker’s COVID-19 pill, Paxlovid. Meacham increased his price target on the stock to $70 from $59.
“The Fund’s strongest performer during the quarter was pharmaceutical manufacturer Pfizer. The company submitted trial data to the FDA for use of its COVID-19 vaccine for younger children, and it is widely expected that the FDA will approve it. Health authorities also began recommending booster shots of the Pfizer vaccine for select populations, further increasing demand for vaccinations.”