5 Dividend Stocks in Adage Capital’s Portfolio

2. International Paper Company (NYSE:IP)

Dividend Yield: 3.95%

Adage Capital Management Stake Value: $23,067,000

Percentage of Adage Capital Management’s 13F Portfolio: 0.04%

Number of Hedge Fund Holders: 30

Another dividend stock in Adage Capital Management’s portfolio is the paper and packaging company International Paper Company (NYSE:IP). During the third quarter of 2021, Adage Capital boosted its stake in the company by 940% bringing its total holdings to 412,492 shares worth $23 million. 

The Tennessee packaging company sells industrial packaging, cellulose fibers, and printing paper products internationally. In the third quarter of 2021, International Paper Company (NYSE:IP) had a revenue of $5.71 billion. 

International Paper Company (NYSE:IP) was given a Hold rating by Deutsche Bank analyst Kyle White in December, with a price target of $47. 

At the end of the third quarter of 2021, 30 hedge funds in the database of Insider Monkey held stakes worth $263 million in International Paper Company (NYSE:IP), compared to 31 in the preceding quarter worth $210 million.