Ballentine Partners LLC Acquires Shares of 7,846 Royalty Pharma plc (NASDAQ:RPRX)

Ballentine Partners LLC acquired a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 7,846 shares of the biopharmaceutical company’s stock, valued at approximately $200,000.

Several other hedge funds have also recently modified their holdings of the stock. Brooklyn Investment Group lifted 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 in the last quarter. Blue Trust Inc. grew its holdings 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 buying an additional 943 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Royalty Pharma in the 3rd quarter worth approximately $61,000. GAMMA Investing LLC raised 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 worth $63,000 after acquiring an additional 590 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 655 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, 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. One equities research 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $41.67.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $31.06 on Friday. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $31.66. The company’s 50-day moving average is $26.78 and its 200 day moving average is $27.34. The firm has a market capitalization of $18.30 billion, a P/E ratio of 16.09 and a beta of 0.47. 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 firm 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. This is a positive change 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 2.83%. The ex-dividend date is Friday, February 21st. Royalty Pharma’s dividend payout ratio (DPR) is currently 45.60%.

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.