Royalty Pharma plc (NASDAQ:RPRX) Shares Purchased by State Street Corp

State Street Corp grew its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,516,262 shares of the biopharmaceutical company’s stock after purchasing an additional 29,451 shares during the quarter. State Street Corp owned 1.60% of Royalty Pharma worth $269,215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Swedbank AB lifted its position in Royalty Pharma by 2.0% during the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock worth $311,964,000 after acquiring an additional 213,900 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Royalty Pharma by 58.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock worth $84,915,000 after purchasing an additional 1,103,341 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Royalty Pharma by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,972,201 shares of the biopharmaceutical company’s stock worth $84,084,000 after purchasing an additional 174,874 shares in the last quarter. New South Capital Management Inc. boosted its stake in shares of Royalty Pharma by 5.0% in the third quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company’s stock valued at $69,774,000 after purchasing an additional 117,394 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Royalty Pharma by 6.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company’s stock valued at $40,428,000 after purchasing an additional 86,248 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Trading Down 1.6 %

Shares of NASDAQ RPRX opened at $25.59 on Wednesday. The stock has a market capitalization of $15.08 billion, a P/E ratio of 13.26, a PEG ratio of 4.55 and a beta of 0.46. The stock’s 50 day moving average price is $26.94 and its two-hundred day moving average price is $27.27. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 52-week low of $25.10 and a 52-week high of $31.66.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is presently 43.52%.

Analysts Set New Price Targets

A number of brokerages have commented on RPRX. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Citigroup lowered their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, The Goldman Sachs Group upped their target price on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One 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, Royalty Pharma currently has an average rating of “Moderate Buy” and a consensus 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.