Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 49.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,232 shares of the biopharmaceutical company's stock after selling 23,786 shares during the quarter. Ameriprise Financial Inc.'s holdings in Royalty Pharma were worth $618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RPRX. Allworth Financial LP lifted its stake in shares of Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 877 shares during the last quarter. Riverview Trust Co increased its holdings in shares of Royalty Pharma by 3,953.3% in the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after acquiring an additional 1,186 shares during the last quarter. Rakuten Securities Inc. boosted its position in shares of Royalty Pharma by 160.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock valued at $42,000 after purchasing an additional 1,003 shares during the period. Blue Trust Inc. boosted its position in shares of Royalty Pharma by 31.3% in the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 376 shares during the period. Finally, Westpac Banking Corp purchased a new stake in shares of Royalty Pharma during the fourth quarter worth approximately $53,000. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup reissued a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Wall Street Zen downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley started coverage on Royalty Pharma in a research report on Friday, May 16th. They issued an "overweight" rating and a $51.00 price objective for the company. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $47.33.

Royalty Pharma Trading Up 0.1%

RPRX stock traded up $0.03 during trading on Friday, reaching $33.78. 2,743,303 shares of the stock traded hands, compared to its average volume of 3,535,570. Royalty Pharma plc has a 52-week low of $24.05 and a 52-week high of $34.32. The business's 50 day moving average price is $32.52 and its 200-day moving average price is $30.65. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $18.99 billion, a PE ratio of 23.30, 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 results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. The business had revenue of $839.00 million for the quarter, compared to analysts' expectations of $724.69 million. As a group, sell-side analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Friday, May 16th. Royalty Pharma's payout ratio is currently 47.57%.

About Royalty Pharma

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.