In 2001, Phill Gross and Robert Atchinson founded Adage Capital Management, a private equity firm. Founded in the third quarter of 2001, the fund manages nearly $51 billion. Adage Capital is a New York and Boston-based asset management firm. Third-quarter 2021’s top dividend-paying stocks included ExxonMobil Corporation, Coca-Cola Company KO, Pfizer Inc., and Apple Inc. The following is a rundown of some of the most popular stocks in the fund’s holdings.
Insider Monkey picked out the 10 dividend stocks in Adage Capital’s portfolio. Products from Gillette, Tide, Pantene, Oral-B, Mr. Clean, and Vicks are available from the Proctor & Gamble Company. At the end of the third quarter of 2021, 69 hedge funds in Insider Monkey’s database had $6.41 billion invested in PG. One of the world’s leading providers of Internet of Things (IoT) products is Cisco Systems Inc. As of the end of the third quarter in September, Fisher Asset Management was the largest shareholder, holding 22.8 million shares worth $1.24 billion in value. Investments in JPMorgan Chase & Co. rose by Adage Capital Management to nearly $490 million, up 2%. The bank’s stock rose by 2.1% on January 3 as the yield on the 10-year US Treasury note increased. New Jersey-based pharmaceutical company saw a 25 percent increase in the fund’s stake in it. Johnson & Johnson was worth $429 million to Adage Capital at the end of September when it owned 2.65 million shares. Matt Miksic, a Credit Suisse analyst, reaffirmed his Outperform rating on JNJ in December. Northland analyst Gus Richard recently upgraded Intel Corporation from Market Perform to Outperform. For the stock, Richard set a price target of $62. With over 32 million shares worth over $1.73 billion, First Eagle Investment Management is a major shareholder. For more details, click the 10 Dividend Stocks In Adage Capital’s Portfolio.
