California Public Employees Retirement System Sells 22,198 Shares of Royalty Pharma plc (NASDAQ:RPRX)

California Public Employees Retirement System cut its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,781,024 shares of the biopharmaceutical company’s stock after selling 22,198 shares during the quarter. California Public Employees Retirement System’s holdings in Royalty Pharma were worth $45,434,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RPRX. Brooklyn Investment Group increased its position 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 purchasing an additional 876 shares during the last quarter. Allworth Financial LP increased its holdings in Royalty Pharma by 417.6% during the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 877 shares during the last quarter. Riverview Trust Co raised its position in 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 boosted its stake in Royalty Pharma by 187.1% in the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 997 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Royalty Pharma by 31.3% during the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 376 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Trading Up 0.4 %

NASDAQ:RPRX opened at $31.28 on Thursday. The company has a market cap of $18.03 billion, a P/E ratio of 21.57, a P/E/G ratio of 2.31 and a beta of 0.47. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $34.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The stock’s fifty day moving average price is $32.49 and its two-hundred day moving average price is $28.92.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 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%. As a group, analysts expect that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Friday, February 21st. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s dividend payout ratio is 60.69%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Friday, March 28th. TD Cowen raised 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, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $41.60.

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.