First Trust Advisors LP Sells 157,472 Shares of Royalty Pharma plc (NASDAQ:RPRX)

First Trust Advisors LP lowered its position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 16.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 798,508 shares of the biopharmaceutical company's stock after selling 157,472 shares during the quarter. First Trust Advisors LP owned 0.14% of Royalty Pharma worth $20,370,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Brooklyn Investment Group lifted its stake in shares of Royalty Pharma by 1,006.9% during the 4th quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 876 shares in the last quarter. Allworth Financial LP lifted its position in shares of Royalty Pharma by 417.6% in the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 877 shares in the last quarter. Riverview Trust Co boosted its stake in shares of Royalty Pharma by 3,953.3% in the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 1,186 shares during the period. Fifth Third Bancorp grew its position in shares of Royalty Pharma by 187.1% during the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 997 shares in the last quarter. Finally, Rakuten Securities Inc. raised its stake in Royalty Pharma by 160.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock valued at $42,000 after purchasing an additional 1,003 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Price Performance

NASDAQ:RPRX opened at $32.20 on Friday. The business's 50-day moving average is $32.52 and its 200 day moving average is $29.44. Royalty Pharma plc has a 12 month low of $24.05 and a 12 month high of $34.20. The company has a market capitalization of $18.56 billion, a P/E ratio of 22.21, a P/E/G ratio of 2.31 and a beta of 0.50. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (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, equities research analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a $0.22 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.73%. Royalty Pharma's payout ratio is currently 60.69%.

Wall Street Analysts Forecast Growth

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

About Royalty Pharma

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.

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