Hsbc Holdings PLC Has $3.50 Million Stock Position in Royalty Pharma PLC $RPRX

Key Points

• HSBC Holdings PLC reduced its stake in Royalty Pharma PLC by 34.0%, owning 113,798 shares after selling 58,518 shares during the first quarter.
• Royalty Pharma recently reported earnings of $1.14 per share, surpassing expectations, but its revenue of $578.67 million fell short of analyst estimates.
• The company announced a quarterly dividend of $0.22 per share, reflecting a yield of 2.4%, with the ex-dividend date set for August 15th.

Hsbc Holdings PLC lowered its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 34.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,798 shares of the biopharmaceutical company's stock after selling 58,518 shares during the quarter. Hsbc Holdings PLC's holdings in Royalty Pharma were worth $3,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Applied Finance Capital Management LLC boosted its holdings in Royalty Pharma by 3.0% during the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock worth $351,000 after buying an additional 329 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in Royalty Pharma by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock worth $1,238,000 after buying an additional 349 shares in the last quarter. Sherbrooke Park Advisers LLC lifted its position in shares of Royalty Pharma by 1.1% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock valued at $890,000 after acquiring an additional 380 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 414 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 452 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Citigroup upped their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Morgan Stanley upped their price target on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen downgraded shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $48.00.

Royalty Pharma Stock Up 1.0%

RPRX stock traded up $0.36 during midday trading on Friday, reaching $35.98. The company had a trading volume of 2,993,986 shares, compared to its average volume of 3,145,088. 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 company has a market capitalization of $20.98 billion, a P/E ratio of 20.80, a PEG ratio of 2.32 and a beta of 0.55. The company has a 50 day moving average of $36.28 and a two-hundred day moving average of $34.05.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The company had revenue of $578.67 million during the quarter, compared to the consensus estimate of $750.06 million. On average, equities research analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, August 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. Royalty Pharma's dividend payout ratio is 50.87%.

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.