AlTi Global Inc. Lowers Holdings in Royalty Pharma PLC $RPRX

Key Points

• AlTi Global Inc. reduced its stake in Royalty Pharma PLC by 57.7%, owning 163,836 shares after selling 223,731 in the first quarter, with a valuation of $5.1 million.
• Royalty Pharma recently announced a quarterly dividend of $0.22 per share, translating to an annualized yield of 2.4%, which will be paid on September 10th.
• Analysts have a consensus rating of "Buy" for Royalty Pharma, with price target boosts from Citigroup and Morgan Stanley raising their targets to $42.00 and $54.00 respectively.

AlTi Global Inc. decreased its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 57.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 163,836 shares of the biopharmaceutical company's stock after selling 223,731 shares during the period. AlTi Global Inc.'s holdings in Royalty Pharma were worth $5,100,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RPRX. Victory Capital Management Inc. boosted its holdings in Royalty Pharma by 270.4% in the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company's stock valued at $112,788,000 after acquiring an additional 2,644,923 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Royalty Pharma in the fourth quarter valued at $41,959,000. Los Angeles Capital Management LLC boosted its holdings in Royalty Pharma by 2,543.7% in the first quarter. Los Angeles Capital Management LLC now owns 1,081,128 shares of the biopharmaceutical company's stock valued at $33,656,000 after acquiring an additional 1,040,234 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Royalty Pharma in the first quarter valued at $31,591,000. Finally, Bank of America Corp DE boosted its holdings in Royalty Pharma by 46.7% in the fourth quarter. Bank of America Corp DE now owns 2,985,585 shares of the biopharmaceutical company's stock valued at $76,162,000 after acquiring an additional 950,880 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Down 2.2%

Shares of RPRX stock traded down $0.83 during mid-day trading on Friday, reaching $36.07. 9,231,241 shares of the company's stock traded hands, compared to its average volume of 3,155,449. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $38.00. The company has a market cap of $21.03 billion, a P/E ratio of 20.85, a P/E/G ratio of 2.41 and a beta of 0.58. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. The company's 50-day moving average price is $36.34 and its 200-day moving average price is $34.18.

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

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be 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 is Friday, August 15th. Royalty Pharma's payout ratio is currently 50.87%.

Analyst Ratings Changes

RPRX has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Citigroup lifted their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their price target on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, Royalty Pharma has an average rating of "Buy" and an average target price of $48.00.

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.