Sumitomo Mitsui Trust Group Inc. Lowers Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Sumitomo Mitsui Trust Group Inc. reduced its stake in Royalty Pharma plc (NASDAQ:RPRX) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 952,723 shares of the biopharmaceutical company’s stock after selling 56,818 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.16% of Royalty Pharma worth $24,304,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Swedbank AB grew its position in Royalty Pharma by 10.3% during the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company’s stock valued at $310,308,000 after purchasing an additional 1,136,800 shares during the last quarter. State Street Corp grew its holdings in shares of Royalty Pharma by 0.3% during the third quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company’s stock valued at $269,215,000 after buying an additional 29,451 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Royalty Pharma by 6.1% during the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock valued at $205,562,000 after acquiring an additional 417,490 shares in the last quarter. Two Sigma Advisers LP raised its holdings 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 acquiring an additional 936,900 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 valued at $84,915,000 after acquiring an additional 1,103,341 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on RPRX. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. Citigroup reduced their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $41.67.

Royalty Pharma Trading Up 1.7 %

Shares of NASDAQ:RPRX opened at $32.25 on Wednesday. The stock’s 50-day simple moving average is $27.93 and its two-hundred day simple moving average is $27.65. The stock has a market capitalization of $19.00 billion, a price-to-earnings ratio of 16.71 and a beta of 0.49. Royalty Pharma plc has a 52-week low of $24.05 and a 52-week high of $32.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 50.53% and a return on equity of 24.65%. Analysts expect that Royalty Pharma plc will post 4.08 EPS for the current year.

Royalty Pharma Increases Dividend

The company 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 $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.73%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, February 21st. Royalty Pharma’s dividend payout ratio is currently 43.52%.

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.