Kovitz Investment Group Partners LLC Sells 50,665 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Kovitz Investment Group Partners LLC trimmed its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 29.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,754 shares of the biopharmaceutical company's stock after selling 50,665 shares during the period. Kovitz Investment Group Partners LLC's holdings in Royalty Pharma were worth $3,340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RPRX. Swedbank AB increased its stake in Royalty Pharma by 2.0% in the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company's stock valued at $311,964,000 after buying an additional 213,900 shares during the period. State Street Corp raised its stake in shares of Royalty Pharma by 0.3% in the 3rd quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company's stock valued at $269,215,000 after acquiring an additional 29,451 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Royalty Pharma by 44.7% in the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company's stock worth $85,809,000 after purchasing an additional 936,900 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 valued at $84,084,000 after purchasing an additional 174,874 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RPRX shares. The Goldman Sachs Group upped their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. Citigroup cut their price objective on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Finally, StockNews.com raised Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $41.67.

Royalty Pharma Stock Performance

Shares of NASDAQ:RPRX traded up $0.10 during trading on Monday, hitting $26.01. 2,588,820 shares of the stock were exchanged, compared to its average volume of 2,647,669. The company's fifty day simple moving average is $26.98 and its 200-day simple moving average is $27.28. 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 company has a market capitalization of $15.32 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 4.55 and a beta of 0.46. Royalty Pharma plc has a 1-year low of $25.10 and a 1-year high of $31.66.

Royalty Pharma Announces Dividend

The firm also recently announced 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 3.23%. Royalty Pharma's dividend payout ratio (DPR) is currently 43.52%.

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.