Overbrook Management Corp Cuts Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Overbrook Management Corp reduced its stake in Royalty Pharma plc (NASDAQ:RPRX) by 16.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 118,408 shares of the biopharmaceutical company’s stock after selling 22,500 shares during the quarter. Overbrook Management Corp’s holdings in Royalty Pharma were worth $3,021,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Aurora Investment Counsel grew its stake in shares of Royalty Pharma by 1.0% in the 3rd quarter. Aurora Investment Counsel now owns 50,441 shares of the biopharmaceutical company’s stock worth $1,427,000 after acquiring an additional 512 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Royalty Pharma by 31.4% during the fourth quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 590 shares during the last quarter. Xponance Inc. grew its position in Royalty Pharma by 1.9% in the 2nd quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock worth $836,000 after purchasing an additional 606 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Royalty Pharma by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 655 shares during the last quarter. Finally, Values First Advisors Inc. lifted its position in shares of Royalty Pharma by 7.6% during the 3rd quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company’s stock worth $295,000 after buying an additional 738 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup reduced their target price on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. One equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $41.67.

Royalty Pharma Trading Down 0.6 %

Shares of Royalty Pharma stock opened at $30.75 on Monday. The stock has a market capitalization of $18.12 billion, a P/E ratio of 15.93 and a beta of 0.47. Royalty Pharma plc has a 52-week low of $24.05 and a 52-week high of $31.66. 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 stock’s 50-day simple moving average is $26.31 and its 200 day simple moving average is $27.19.

Royalty Pharma Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be given a $0.22 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.86%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s payout ratio is 43.52%.

Royalty Pharma Company 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.