abrdn plc Sells 14,685 Shares of Royalty Pharma plc (NASDAQ:RPRX)

abrdn plc lowered its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,667 shares of the biopharmaceutical company's stock after selling 14,685 shares during the period. abrdn plc's holdings in Royalty Pharma were worth $2,276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Swedbank AB lifted its stake in Royalty Pharma by 10.3% in the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company's stock worth $310,308,000 after purchasing an additional 1,136,800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Royalty Pharma by 58.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company's stock worth $84,915,000 after purchasing an additional 1,103,341 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Royalty Pharma by 44.7% in the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company's stock worth $85,809,000 after purchasing an additional 936,900 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Royalty Pharma in the 3rd quarter worth approximately $14,898,000. Finally, Geode Capital Management LLC lifted its stake in Royalty Pharma by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company's stock worth $205,562,000 after purchasing an additional 417,490 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX traded down $0.10 during trading on Friday, reaching $32.36. The company had a trading volume of 4,822,374 shares, compared to its average volume of 4,212,119. The company has a fifty day moving average of $28.30 and a two-hundred day moving average of $27.74. The stock has a market capitalization of $19.07 billion, a P/E ratio of 16.77 and a beta of 0.49. Royalty Pharma plc has a 12 month low of $24.05 and a 12 month high of $32.89. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.99 by $0.16. Royalty Pharma had a net margin of 50.53% and a return on equity of 24.65%. Equities research analysts forecast that Royalty Pharma plc will post 4.08 earnings per share for the current year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.72%. This is a positive change from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's dividend payout ratio (DPR) is currently 43.52%.

Analysts Set New Price Targets

Several analysts have issued reports on RPRX shares. Citigroup lowered their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. StockNews.com upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Finally, TD Cowen upgraded shares of Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Royalty Pharma has an average rating of "Buy" and a consensus price target of $41.67.

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.