Sumitomo Mitsui Trust Group Inc. Sells 56,818 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 952,723 shares of the biopharmaceutical company’s stock after selling 56,818 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Royalty Pharma were worth $24,304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in RPRX. Brooklyn Investment Group boosted its stake 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 during the period. Blue Trust Inc. lifted its holdings in shares of Royalty Pharma by 362.7% in the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 943 shares in the last quarter. Fifth Third Bancorp boosted 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 acquiring an additional 997 shares during the last quarter. Spire Wealth Management lifted its stake in Royalty Pharma by 377.6% in the 4th quarter. Spire Wealth Management now owns 2,149 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 1,699 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Royalty Pharma during the 3rd quarter valued at about $61,000. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

NASDAQ:RPRX opened at $32.25 on Wednesday. The firm has a market capitalization of $19.00 billion, a price-to-earnings ratio of 16.71 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. The business has a 50 day simple moving average of $27.93 and a 200-day simple moving average of $27.65. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $32.72.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data 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 net margin of 50.53% and a return on equity of 24.65%. Equities analysts forecast that Royalty Pharma plc will post 4.08 EPS for the current year.

Royalty Pharma Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.73%. Royalty Pharma’s payout ratio is currently 43.52%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Citigroup reduced their price objective on 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 raised shares of Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and a consensus target price 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.