Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its position in Royalty Pharma plc (NASDAQ:RPRX) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,068 shares of the biopharmaceutical company’s stock after selling 966 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Royalty Pharma were worth $1,904,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RPRX. Franklin Resources Inc. increased its holdings in shares of Royalty Pharma by 5.0% in the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock valued at $40,705,000 after buying an additional 70,130 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Royalty Pharma by 171.1% during the third quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company’s stock worth $2,777,000 after purchasing an additional 64,057 shares during the period. Summit Global Investments purchased a new stake in shares of Royalty Pharma during the third quarter valued at $735,000. Pallas Capital Advisors LLC acquired a new position in shares of Royalty Pharma in the 4th quarter valued at $2,355,000. Finally, Two Sigma Advisers LP increased its stake 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 in the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Down 0.0 %

Royalty Pharma stock opened at $31.72 on Tuesday. The firm’s 50 day moving average price is $27.83 and its two-hundred day moving average price is $27.63. The firm has a market cap of $18.69 billion, a PE ratio of 16.44 and a beta of 0.49. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $32.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54.

Royalty Pharma Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have commented on RPRX. 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 research note on Tuesday, November 5th. Finally, Citigroup cut their target price 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. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Royalty Pharma presently has an average rating of “Buy” and an average target price 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.