Ameriprise Financial Inc. Sells 23,786 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Ameriprise Financial Inc. lessened its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 49.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Adage Capital Partners GP L.L.C. grew its holdings in Royalty Pharma by 42.6% during 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 period. Norges Bank acquired a new position in Royalty Pharma during the fourth quarter valued at approximately $124,498,000. AQR Capital Management LLC grew its holdings in 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 valued at $48,563,000 after purchasing an additional 1,240,384 shares during the period. Raymond James Financial Inc. acquired a new position in Royalty Pharma during the fourth quarter valued at approximately $19,990,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Royalty Pharma during the fourth quarter valued at approximately $18,183,000. Institutional investors and hedge funds own 54.35% of the company's stock.

Wall Street Analyst Weigh In

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

Royalty Pharma Price Performance

Royalty Pharma stock traded up $0.31 during trading hours on Thursday, reaching $33.75. 2,653,010 shares of the stock were exchanged, compared to its average volume of 3,526,114. The company has a market cap of $18.98 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. 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 $34.32. The stock has a 50 day moving average of $32.41 and a two-hundred day moving average of $30.54.

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

Royalty Pharma Dividend Announcement

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

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.