Bank of America Corp DE Has $76.16 Million Stake in Royalty Pharma plc (NASDAQ:RPRX)

Bank of America Corp DE increased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 46.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,985,585 shares of the biopharmaceutical company's stock after purchasing an additional 950,880 shares during the period. Bank of America Corp DE owned 0.51% of Royalty Pharma worth $76,162,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RPRX. Adage Capital Partners GP L.L.C. grew its position in shares of Royalty Pharma by 42.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock valued at $432,862,000 after purchasing an additional 5,069,127 shares during the last quarter. Norges Bank acquired a new position in Royalty Pharma in the 4th quarter valued at $124,498,000. BNP Paribas Financial Markets bought a new position in Royalty Pharma during the 4th quarter worth $41,959,000. AQR Capital Management LLC lifted its holdings in shares of Royalty Pharma by 187.0% during the fourth quarter. AQR Capital Management LLC now owns 1,903,676 shares of the biopharmaceutical company's stock worth $48,563,000 after buying an additional 1,240,384 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Royalty Pharma by 10.3% during the fourth quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company's stock worth $310,308,000 after buying an additional 1,136,800 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RPRX. Morgan Stanley began coverage on shares of Royalty Pharma in a research note on Friday. They issued an "overweight" rating and a $51.00 price target on the stock. Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Finally, StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a hold rating, four 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 an average rating of "Buy" and an average price target of $42.50.

Royalty Pharma Price Performance

RPRX stock traded up $0.90 during mid-day trading on Friday, hitting $34.02. The stock had a trading volume of 4,933,445 shares, compared to its average volume of 3,340,239. The firm has a fifty day simple moving average of $32.36 and a 200 day simple moving average of $29.92. 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 52 week low of $24.05 and a 52 week high of $34.20. The firm has a market capitalization of $19.61 billion, a P/E ratio of 23.46, a P/E/G ratio of 2.31 and a beta of 0.49.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The business had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. As a group, research analysts forecast that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) is presently 47.57%.

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.