5 Dividend Stocks in Adage Capital’s Portfolio

3. Amgen Inc. (NASDAQ:AMGN)

Dividend Yield: 3.42%

Adage Capital Management Stake Value: $35,988,000

Percentage of Adage Capital Management’s 13F Portfolio: 0.07%

Number of Hedge Fund Holders: 52

Biotech firm Amgen Inc. (NASDAQ:AMGN) grew its revenue in the third quarter of 2021 by 4% to $6.7 billion. Strong sales from the drugmaker’s two osteoporosis medications, Prolia and Evenity, as well as its psoriasis drug, Otezla, aided the company’s sales growth. The three medications generated $1.6 billion in revenue in the third quarter.

At the end of the third quarter of 2021, 52 hedge funds in the database of Insider Monkey held stakes worth $1.45 billion in Amgen Inc. (NASDAQ:AMGN), compared to 53 in the preceding quarter worth $1.65 billion.

Here is what ClearBridge Investments has to say about Amgen Inc. (NASDAQ:AMGN) in its Q3 2021 investor letter:

“In health care, Amgen, a biotechnology company, has endured several pipeline setbacks recently, including a slow transition of its Lumakras treatment into first-line lung cancer, a slower than expected development of its treatment for myeloma as well as the company’s asthma treatment Tezepelumab missing its primary endpoint in a Phase III study. We remain positive on the stock, with Amgen’s investments in biosimilars and its pipeline part of our long-term thesis.”