Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 83.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,289,418 shares of the biopharmaceutical company's stock after selling 6,449,863 shares during the period. JPMorgan Chase & Co. owned about 0.22% of Royalty Pharma worth $36,478,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in Royalty Pharma by 362.7% in the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 943 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Royalty Pharma in the 3rd quarter valued at about $61,000. EverSource Wealth Advisors LLC grew its position in shares of 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 buying an additional 655 shares during the last quarter. Transamerica Financial Advisors Inc. raised its stake in Royalty Pharma by 99.9% during the third quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company's stock worth $98,000 after acquiring an additional 1,729 shares during the period. Finally, Lake Street Advisors Group LLC acquired a new position in Royalty Pharma in the third quarter valued at approximately $211,000. 54.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RPRX. StockNews.com raised Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. TD Cowen upgraded Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. Finally, Citigroup lowered their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $41.67.

Royalty Pharma Stock Performance

Shares of RPRX traded up $0.29 during trading hours on Tuesday, reaching $26.04. 2,727,313 shares of the company's stock traded hands, compared to its average volume of 2,140,978. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $31.66. The firm has a market capitalization of $15.34 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 4.36 and a beta of 0.47. The business's fifty day simple moving average is $25.95 and its two-hundred day simple moving average is $27.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were given a $0.21 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.23%. Royalty Pharma's dividend payout ratio (DPR) is 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.