Franklin Resources Inc. Grows Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Franklin Resources Inc. lifted its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,460,515 shares of the biopharmaceutical company's stock after buying an additional 70,130 shares during the period. Franklin Resources Inc. owned about 0.25% of Royalty Pharma worth $40,705,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Royalty Pharma by 58.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company's stock worth $84,915,000 after acquiring an additional 1,103,341 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Royalty Pharma by 44.7% during the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company's stock valued at $85,809,000 after purchasing an additional 936,900 shares in the last quarter. New South Capital Management Inc. boosted its position in shares of Royalty Pharma by 60.7% during the second quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company's stock valued at $61,943,000 after buying an additional 887,522 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Royalty Pharma in the 3rd quarter worth about $14,898,000. Finally, Geode Capital Management LLC raised its position in Royalty Pharma by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company's stock worth $205,562,000 after buying an additional 417,490 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Performance

RPRX traded down $0.65 during trading on Wednesday, hitting $24.47. The company's stock had a trading volume of 3,732,111 shares, compared to its average volume of 2,664,242. The business's 50 day simple moving average is $26.55 and its 200-day simple moving average is $27.19. The firm has a market cap of $14.42 billion, a PE ratio of 12.68, a P/E/G ratio of 4.36 and a beta of 0.46. Royalty Pharma plc has a one year low of $24.46 and a one year high of $31.66. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were issued 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 3.43%. Royalty Pharma's dividend payout ratio is currently 43.52%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RPRX. Citigroup reduced 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 note on Friday, October 25th. StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $41.67.

Royalty Pharma Company 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.