Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp trimmed its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 65.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,571 shares of the biopharmaceutical company’s stock after selling 161,541 shares during the period. Alaska Permanent Fund Corp’s holdings in Royalty Pharma were worth $2,404,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its position in shares of Royalty Pharma by 89.8% during the 3rd quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 451 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Royalty Pharma by 112.0% during the third quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 531 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Royalty Pharma by 485.2% during the fourth quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock valued at $68,000 after acquiring an additional 1,999 shares during the period. Rakuten Securities Inc. purchased a new position in Royalty Pharma during the fourth quarter valued at approximately $110,000. Finally, CWM LLC grew its position in Royalty Pharma by 75.9% during the third quarter. CWM LLC now owns 4,782 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 2,064 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RPRX has been the subject of several recent analyst reports. Bank of America decreased their price objective on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, April 12th. The Goldman Sachs Group decreased their price objective on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Royalty Pharma currently has an average rating of “Buy” and an average target price of $46.75.

Royalty Pharma Trading Down 0.8 %

RPRX stock traded down $0.22 during trading on Thursday, hitting $27.76. The company had a trading volume of 245,900 shares, compared to its average volume of 2,642,767. The firm has a 50-day moving average price of $29.69 and a 200-day moving average price of $28.54. The stock has a market cap of $16.58 billion, a price-to-earnings ratio of 14.80 and a beta of 0.45. Royalty Pharma plc has a 12 month low of $25.92 and a 12 month high of $35.76. The company has a quick ratio of 7.90, a current ratio of 7.90 and a debt-to-equity ratio of 0.61.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.03 by $0.12. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. The company had revenue of $736.00 million during the quarter, compared to analysts’ expectations of $702.90 million. As a group, analysts predict that Royalty Pharma plc will post 3.95 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, May 16th. Royalty Pharma’s payout ratio is presently 44.44%.

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.