Indie Asset Partners LLC cut its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 15.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,718 shares of the biopharmaceutical company’s stock after selling 3,570 shares during the quarter. Royalty Pharma comprises 1.1% of Indie Asset Partners LLC’s portfolio, making the stock its 18th biggest holding. Indie Asset Partners LLC’s holdings in Royalty Pharma were worth $987,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. IFP Advisors Inc increased its holdings in shares of Royalty Pharma by 112.5% during the 3rd quarter. IFP Advisors Inc now owns 850 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 450 shares during the last quarter. American International Group Inc. acquired a new position in shares of Royalty Pharma during the 3rd quarter worth approximately $67,000. Neo Ivy Capital Management increased its holdings in shares of Royalty Pharma by 65.5% during the 3rd quarter. Neo Ivy Capital Management now owns 1,824 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 722 shares during the last quarter. Bank of America Corp DE acquired a new position in Royalty Pharma in the 2nd quarter valued at $147,000. Finally, State of Alaska Department of Revenue acquired a new position in Royalty Pharma in the 4th quarter valued at $154,000. 40.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:RPRX traded down $1.20 during trading on Tuesday, reaching $46.82. 32,013 shares of the company traded hands, compared to its average volume of 2,633,068. The company’s 50 day moving average is $49.12 and its two-hundred day moving average is $44.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 10.31 and a current ratio of 10.31. Royalty Pharma plc has a 52 week low of $34.80 and a 52 week high of $56.50.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 15th. Investors of record on Friday, February 19th will be given a dividend of $0.17 per share. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, February 18th.
A number of research analysts have commented on the company. UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $52.00 to $51.00 in a report on Monday, November 9th. Zacks Investment Research lowered Royalty Pharma from a “buy” rating to a “hold” rating in a report on Friday, February 5th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $51.89.
In related news, major shareholder Adage Capital Partners Gp, L.L sold 7,301,050 shares of the company’s stock in a transaction on Friday, December 18th. The stock was sold at an average price of $43.92, for a total transaction of $320,662,116.00. 2.50% of the stock is owned by corporate insiders.
Royalty Pharma Company Profile
Royalty Pharma plc operates in the biopharmaceutical industry. The company operates as a buyer of biopharmaceutical royalties and a funder of innovation in the biopharmaceutical industry. It is involved in the identification, evaluation, and acquisition of royalties and royalty-related assets on various biopharmaceutical therapies.
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