Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in Royalty Pharma plc (NASDAQ:RPRX) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,154,178 shares of the biopharmaceutical company’s stock after selling 125,842 shares during the period. Alliancebernstein L.P. owned approximately 0.20% of Royalty Pharma worth $29,443,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Verition Fund Management LLC grew its stake in shares of Royalty Pharma by 39.7% during the 3rd quarter. Verition Fund Management LLC now owns 27,869 shares of the biopharmaceutical company’s stock valued at $788,000 after buying an additional 7,919 shares during the period. Investment Management Corp of Ontario grew its position in Royalty Pharma by 47.5% during the third quarter. Investment Management Corp of Ontario now owns 12,733 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 4,100 shares during the period. Royal London Asset Management Ltd. grew its position in Royalty Pharma by 2.8% during the third quarter. Royal London Asset Management Ltd. now owns 160,184 shares of the biopharmaceutical company’s stock valued at $4,532,000 after acquiring an additional 4,307 shares during the period. Quantinno Capital Management LP increased its stake in Royalty Pharma by 43.0% during the third quarter. Quantinno Capital Management LP now owns 56,435 shares of the biopharmaceutical company’s stock worth $1,597,000 after acquiring an additional 16,982 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Royalty Pharma by 0.3% in the 3rd quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company’s stock worth $269,215,000 after purchasing an additional 29,451 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. Citigroup reissued a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $41.60.

Royalty Pharma Stock Down 2.1 %

RPRX stock opened at $31.11 on Monday. The company has a market capitalization of $17.93 billion, a P/E ratio of 21.46, a PEG ratio of 2.31 and a beta of 0.50. The firm has a 50 day simple moving average of $32.52 and a 200-day simple moving average of $28.97. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $34.20.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. On average, equities research analysts predict that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were paid a dividend of $0.22 per share. The ex-dividend date was Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.83%. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s dividend payout ratio is presently 60.69%.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.