First Trust Advisors LP Decreases Position in Royalty Pharma plc (NASDAQ:RPRX)

First Trust Advisors LP decreased its position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 16.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 798,508 shares of the biopharmaceutical company's stock after selling 157,472 shares during the period. First Trust Advisors LP owned approximately 0.14% of Royalty Pharma worth $20,370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in shares of Royalty Pharma by 5.0% during the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company's stock worth $40,705,000 after purchasing an additional 70,130 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Royalty Pharma by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company's stock valued at $79,888,000 after buying an additional 130,025 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in Royalty Pharma in the 4th quarter valued at about $2,355,000. Jupiter Asset Management Ltd. bought a new position in Royalty Pharma in the 4th quarter worth about $4,950,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Royalty Pharma by 303.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company's stock worth $13,926,000 after acquiring an additional 406,123 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Up 0.4 %

Shares of NASDAQ:RPRX traded up $0.12 during trading on Friday, reaching $32.60. The stock had a trading volume of 1,373,740 shares, compared to its average volume of 3,254,154. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $18.79 billion, a P/E ratio of 22.46, a PEG ratio of 2.31 and a beta of 0.50. The firm's 50-day simple moving average is $32.47 and its 200 day simple moving average is $29.56. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.20.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. As a group, research analysts expect that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, May 16th. Royalty Pharma's payout ratio is presently 60.69%.

Analysts Set New Price Targets

Separately, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $42.50.

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.