Main Street Financial Solutions LLC Raises Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Main Street Financial Solutions LLC increased its position in Royalty Pharma plc (NASDAQ:RPRX) by 76.1% during the 3rd quarter, Holdings Channel reports. The firm owned 80,081 shares of the biopharmaceutical company’s stock after acquiring an additional 34,611 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Royalty Pharma were worth $2,265,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Xponance Inc. increased its holdings in shares of Royalty Pharma by 1.9% in the 2nd quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock valued at $836,000 after acquiring an additional 606 shares during the period. EverSource Wealth Advisors LLC grew its stake in Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 655 shares during the last quarter. Values First Advisors Inc. raised its holdings in Royalty Pharma by 7.6% in the third quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company’s stock worth $295,000 after purchasing an additional 738 shares in the last quarter. Phillips Wealth Planners LLC lifted its position in shares of Royalty Pharma by 10.2% during the third 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 during the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings 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 valued at $217,000 after buying an additional 926 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX traded up $0.08 during midday trading on Wednesday, reaching $26.08. 583,223 shares of the company’s stock traded hands, compared to its average volume of 2,582,816. The company has a fifty day simple moving average of $27.66 and a two-hundred day simple moving average of $27.50. Royalty Pharma plc has a 1 year low of $25.20 and a 1 year high of $31.66. The company has a market cap of $15.48 billion, a P/E ratio of 13.49, a PEG ratio of 3.80 and a beta of 0.47. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 3.22%. Royalty Pharma’s dividend payout ratio (DPR) is presently 43.52%.

Wall Street Analyst Weigh In

A number of research firms recently commented on RPRX. The Goldman Sachs Group increased their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Citigroup decreased their price objective on 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 upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Royalty Pharma 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.