Atria Investments Inc Reduces Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Atria Investments Inc trimmed its stake in Royalty Pharma plc (NASDAQ:RPRX) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,183 shares of the biopharmaceutical company’s stock after selling 7,639 shares during the period. Atria Investments Inc’s holdings in Royalty Pharma were worth $1,222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc lifted its position in Royalty Pharma by 5,215.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 1,043 shares during the period. Gladius Capital Management LP purchased a new position in Royalty Pharma during the 2nd quarter valued at about $32,000. Blue Trust Inc. lifted its position 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 acquiring an additional 943 shares during the period. EverSource Wealth Advisors LLC lifted its position in Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 655 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Royalty Pharma by 4,335.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,750 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 2,688 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $25.70 on Friday. The firm has a 50 day moving average of $27.47 and a 200 day moving average of $27.46. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 3.78 and a beta of 0.47. Royalty Pharma plc has a 12-month low of $25.10 and a 12-month high of $31.66.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma’s dividend payout ratio is currently 43.52%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on RPRX shares. The Goldman Sachs Group lifted their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Citigroup decreased their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.