Ballentine Partners LLC Invests $200,000 in Royalty Pharma plc (NASDAQ:RPRX)

Ballentine Partners LLC purchased a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,846 shares of the biopharmaceutical company’s stock, valued at approximately $200,000.

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in shares of Royalty Pharma by 2.0% during the third quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock valued at $311,964,000 after purchasing an additional 213,900 shares in the last quarter. State Street Corp lifted its position in 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 purchasing an additional 29,451 shares during the period. Geode Capital Management LLC boosted its holdings in Royalty Pharma by 6.1% in the third 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 during the last quarter. Two Sigma Advisers LP grew its position 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 during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Royalty Pharma by 58.1% during 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 buying an additional 1,103,341 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $31.06 on Friday. The company has a market capitalization of $18.30 billion, a P/E ratio of 16.09 and a beta of 0.47. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $31.66. The firm’s 50 day simple moving average is $26.78 and its two-hundred day simple moving average is $27.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54.

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. The ex-dividend date is Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.83%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s dividend payout ratio is currently 45.60%.

Analysts Set New Price Targets

RPRX has been the subject of several research analyst reports. Citigroup cut 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. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $41.67.

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.