Los Angeles Capital Management LLC Lowers Position in Royalty Pharma plc (NASDAQ:RPRX)

Los Angeles Capital Management LLC cut its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 13.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 387,697 shares of the biopharmaceutical company's stock after selling 57,851 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.07% of Royalty Pharma worth $10,968,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in Royalty Pharma by 4,335.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,750 shares of the biopharmaceutical company's stock worth $84,000 after acquiring an additional 2,688 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Royalty Pharma in the first quarter valued at $2,961,000. Forsta AP Fonden grew its holdings in shares of Royalty Pharma by 43.0% in the first quarter. Forsta AP Fonden now owns 98,800 shares of the biopharmaceutical company's stock valued at $3,001,000 after purchasing an additional 29,700 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Royalty Pharma by 24.5% in the first quarter. Russell Investments Group Ltd. now owns 402,143 shares of the biopharmaceutical company's stock valued at $12,224,000 after purchasing an additional 79,176 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Royalty Pharma by 9.7% in the first quarter. ProShare Advisors LLC now owns 31,305 shares of the biopharmaceutical company's stock valued at $951,000 after purchasing an additional 2,764 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Down 1.7 %

RPRX traded down $0.45 on Tuesday, hitting $25.91. The company had a trading volume of 1,327,647 shares, compared to its average volume of 2,583,633. The stock has a fifty day moving average price of $27.72 and a 200-day moving average price of $27.51. Royalty Pharma plc has a 12-month low of $25.20 and a 12-month high of $31.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 9.35 and a current ratio of 1.54. The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 3.83 and a beta of 0.47.

Royalty Pharma Dividend Announcement

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 issued a dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.24%. Royalty Pharma's dividend payout ratio (DPR) is currently 43.52%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Citigroup lowered their price target 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, The Goldman Sachs Group raised their price target on Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. 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, Royalty Pharma presently has an average rating of "Moderate Buy" and an average 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.