Amalgamated Bank Lowers Position in Royalty Pharma plc (NASDAQ:RPRX)

Amalgamated Bank decreased its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 70.1% in the third quarter, HoldingsChannel.com reports. The fund owned 20,469 shares of the biopharmaceutical company’s stock after selling 48,057 shares during the quarter. Amalgamated Bank’s holdings in Royalty Pharma were worth $579,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RPRX. Xponance Inc. raised its position in Royalty Pharma by 1.9% during the second quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock valued at $836,000 after purchasing an additional 606 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 655 shares in the last quarter. Values First Advisors Inc. lifted its holdings in Royalty Pharma by 7.6% during the third 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 during the period. Phillips Wealth Planners LLC boosted its holdings in shares of Royalty Pharma by 10.2% in the 3rd quarter. Phillips Wealth Planners LLC now owns 8,733 shares of the biopharmaceutical company’s stock valued at $246,000 after buying an additional 808 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in shares of Royalty Pharma by 12.7% in the 2nd quarter. Meeder Advisory Services Inc. now owns 8,223 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 926 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

RPRX stock opened at $25.70 on Friday. Royalty Pharma plc has a 12-month low of $25.10 and a 12-month high of $31.66. The business’s fifty day moving average price is $27.47 and its 200 day moving average price is $27.46. The company has a market capitalization of $15.25 billion, a PE ratio of 13.32, a P/E/G ratio of 3.78 and a beta of 0.47. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s payout ratio is presently 43.52%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RPRX shares. The Goldman Sachs Group raised their target price on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup dropped their price objective on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Royalty Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

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.