Spire Wealth Management Grows Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Spire Wealth Management increased its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 377.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,149 shares of the biopharmaceutical company’s stock after purchasing an additional 1,699 shares during the period. Spire Wealth Management’s holdings in Royalty Pharma were worth $55,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group raised its holdings in Royalty Pharma by 1,006.9% in the 4th quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 876 shares in the last quarter. Blue Trust Inc. grew its position in Royalty Pharma by 362.7% during the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 943 shares during the last quarter. Fifth Third Bancorp grew its position in Royalty Pharma by 187.1% during the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 997 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Royalty Pharma during the 3rd quarter valued at about $61,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Royalty Pharma by 31.4% during the 4th quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Trading Up 1.1 %

Shares of RPRX stock opened at $31.73 on Monday. The stock’s fifty day moving average is $27.83 and its two-hundred day moving average is $27.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market capitalization of $18.69 billion, a P/E ratio of 16.44 and a beta of 0.49. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $32.21.

Royalty Pharma Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.77%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 21st. Royalty Pharma’s dividend payout ratio (DPR) is presently 43.52%.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of research reports. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Citigroup decreased their price target 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. 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Royalty Pharma presently has an average rating of “Buy” and an average price target of $41.67.

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.