abrdn plc Trims Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

abrdn plc decreased its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,667 shares of the biopharmaceutical company’s stock after selling 14,685 shares during the quarter. abrdn plc’s holdings in Royalty Pharma were worth $2,276,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in RPRX. Swedbank AB raised its holdings in Royalty Pharma by 10.3% in the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company’s stock worth $310,308,000 after purchasing an additional 1,136,800 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Royalty Pharma by 58.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after purchasing an additional 1,103,341 shares during the period. Two Sigma Advisers LP increased its position in Royalty Pharma by 44.7% in the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock worth $85,809,000 after buying an additional 936,900 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Royalty Pharma in the third quarter worth about $14,898,000. Finally, Geode Capital Management LLC lifted its position in shares of Royalty Pharma by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock valued at $205,562,000 after buying an additional 417,490 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RPRX has been the topic of several recent analyst reports. TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. Citigroup decreased their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $41.67.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $31.72 on Tuesday. The company has a market capitalization of $18.69 billion, a PE ratio of 16.44 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. The company’s fifty day moving average price is $27.83 and its 200 day moving average price is $27.63. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $32.21.

Royalty Pharma Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be issued a $0.22 dividend. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.88 dividend on an annualized basis and a yield of 2.77%. Royalty Pharma’s dividend payout ratio is presently 43.52%.

Royalty Pharma 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.