Wells Fargo & Company MN Purchases 15,790 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Wells Fargo & Company MN increased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 29.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,120 shares of the biopharmaceutical company's stock after acquiring an additional 15,790 shares during the quarter. Wells Fargo & Company MN's holdings in Royalty Pharma were worth $1,789,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. grew its holdings in Royalty Pharma by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company's stock worth $40,705,000 after buying an additional 70,130 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Royalty Pharma by 4.3% in the fourth 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 during the period. Pallas Capital Advisors LLC bought a new position in Royalty Pharma during the fourth quarter valued at about $2,355,000. Jupiter Asset Management Ltd. acquired a new stake in Royalty Pharma during the fourth quarter valued at approximately $4,950,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Royalty Pharma by 303.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company's stock valued at $13,926,000 after acquiring an additional 406,123 shares during the last quarter. Institutional investors own 54.35% of the company's stock.

Analysts Set New Price Targets

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

Royalty Pharma Stock Up 0.1 %

RPRX traded up $0.02 during trading on Wednesday, reaching $32.73. 2,033,853 shares of the stock traded hands, compared to its average volume of 4,433,808. The stock's 50-day simple moving average is $32.51 and its two-hundred day simple moving average is $29.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $34.20. The stock has a market cap of $18.87 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating 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, equities research analysts expect that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.69%. Royalty Pharma's dividend payout ratio is currently 60.69%.

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.