Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 9.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,154,178 shares of the biopharmaceutical company’s stock after selling 125,842 shares during the period. Alliancebernstein L.P.’s holdings in Royalty Pharma were worth $29,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Keene & Associates Inc. lifted its holdings in shares of Royalty Pharma by 1.9% in the 4th quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company’s stock worth $495,000 after purchasing an additional 370 shares during the last quarter. Blue Trust Inc. increased its position in Royalty Pharma by 31.3% in the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 376 shares during the period. Sanctuary Advisors LLC lifted its stake in Royalty Pharma by 0.9% in the fourth quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company’s stock valued at $1,068,000 after buying an additional 388 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Royalty Pharma by 0.5% during the fourth quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company’s stock valued at $2,822,000 after acquiring an additional 537 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Royalty Pharma by 31.4% during the fourth quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 590 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. Citigroup reiterated 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, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Royalty Pharma presently has a consensus rating of “Buy” and an average price target of $41.60.

Royalty Pharma Stock Down 2.1 %

RPRX stock opened at $31.11 on Monday. The firm’s 50-day moving average is $32.52 and its two-hundred day moving average is $28.97. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50. Royalty Pharma plc has a 52 week low of $24.05 and a 52 week high of $34.20. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS 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%. On average, analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s payout ratio is currently 60.69%.

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.