Citigroup Inc. Sells 66,237 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Citigroup Inc. trimmed its stake in Royalty Pharma plc (NASDAQ:RPRX) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 528,502 shares of the biopharmaceutical company’s stock after selling 66,237 shares during the period. Citigroup Inc.’s holdings in Royalty Pharma were worth $14,951,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc grew its stake 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 worth $28,000 after buying an additional 1,043 shares during the last quarter. Gladius Capital Management LP purchased a new position in Royalty Pharma during the 2nd quarter worth $32,000. Blue Trust Inc. grew its stake in Royalty Pharma by 362.7% during the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 worth $76,000 after buying an additional 655 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its stake in Royalty Pharma by 274.7% during the 2nd quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock worth $168,000 after buying an additional 4,683 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on RPRX shares. Citigroup dropped their price target 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. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group boosted their price target on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Royalty Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

Royalty Pharma Trading Up 1.2 %

Shares of Royalty Pharma stock opened at $26.60 on Thursday. The firm has a market capitalization of $15.67 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 4.65 and a beta of 0.47. Royalty Pharma plc has a fifty-two week low of $25.10 and a fifty-two 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 has a 50 day moving average of $27.19 and a 200 day moving average of $27.35.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.16%. Royalty Pharma’s dividend payout ratio is currently 43.52%.

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.