Belpointe Asset Management LLC Purchases New Position in Royalty Pharma PLC $RPRX

Key Points

• Belpointe Asset Management LLC acquired a new position in Royalty Pharma PLC, purchasing 7,917 shares valued at approximately $285,000 in the 2nd quarter.
• Royalty Pharma recently announced a quarterly dividend of $0.22 per share, leading to an annualized dividend of $0.88 and a dividend yield of 2.4%.
• Several equity analysts have revised their price targets for Royalty Pharma, with Citigroup raising it from $40.00 to $42.00, while Goldman Sachs initiated coverage with a target of $42.00 and a "buy" rating.

Belpointe Asset Management LLC purchased a new stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,917 shares of the biopharmaceutical company's stock, valued at approximately $285,000.

Other large investors have also made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of Royalty Pharma in the 2nd quarter valued at approximately $32,000. Louisbourg Investments Inc. bought a new stake in shares of Royalty Pharma in the 1st quarter valued at approximately $28,000. Summit Securities Group LLC bought a new stake in shares of Royalty Pharma in the 1st quarter valued at approximately $36,000. WPG Advisers LLC bought a new stake in shares of Royalty Pharma in the 1st quarter valued at approximately $39,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Royalty Pharma by 42.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 402 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Down 0.4%

RPRX opened at $36.01 on Friday. Royalty Pharma PLC has a 1-year low of $24.05 and a 1-year high of $38.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $21.00 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 2.28 and a beta of 0.60. The business has a 50 day moving average of $36.18 and a 200-day moving average of $34.63.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%.The company had revenue of $578.67 million during the quarter, compared to analysts' expectations of $750.06 million. As a group, sell-side analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, August 15th. Royalty Pharma's dividend payout ratio is currently 50.87%.

Analysts Set New Price Targets

Several equities research analysts recently commented on RPRX shares. Citigroup boosted their price target on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Weiss Ratings raised Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. Morgan Stanley decreased their target price on Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Friday. The Goldman Sachs Group started coverage on Royalty Pharma in a research report on Tuesday, September 30th. They set a "buy" rating and a $42.00 target price for the company. Finally, Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Royalty Pharma currently has an average rating of "Buy" and an average price target of $46.00.

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.

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