State Street Corp Grows Holdings in Royalty Pharma plc (NASDAQ:RPRX)

State Street Corp increased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,516,262 shares of the biopharmaceutical company's stock after buying an additional 29,451 shares during the quarter. State Street Corp owned about 1.60% of Royalty Pharma worth $269,215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Gladius Capital Management LP purchased a new position in shares of Royalty Pharma during the 2nd quarter worth about $32,000. Blue Trust Inc. raised its stake in Royalty Pharma by 362.7% during 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. EverSource Wealth Advisors LLC boosted its holdings in shares of Royalty Pharma by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company's stock valued at $76,000 after purchasing an additional 655 shares during the last quarter. Transamerica Financial Advisors Inc. grew its stake in shares of Royalty Pharma by 99.9% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company's stock valued at $98,000 after buying an additional 1,729 shares during the period. Finally, iA Global Asset Management Inc. grew its stake in shares of Royalty Pharma by 274.7% during the 2nd quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company's stock valued at $168,000 after buying an additional 4,683 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Down 1.5 %

NASDAQ:RPRX traded down $0.39 during trading hours on Wednesday, hitting $25.20. The stock had a trading volume of 2,850,623 shares, compared to its average volume of 2,650,519. The business has a 50 day simple moving average of $26.88 and a two-hundred day simple moving average of $27.26. Royalty Pharma plc has a 1-year low of $25.02 and a 1-year high of $31.66. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The company has a market cap of $14.85 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 4.55 and a beta of 0.46.

Royalty Pharma Dividend Announcement

The company also recently declared 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 3.33%. The ex-dividend date of this dividend was Friday, November 15th. Royalty Pharma's dividend payout ratio (DPR) is 43.52%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RPRX shares. StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Citigroup reduced their price objective on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Finally, The Goldman Sachs Group increased their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Royalty Pharma presently has an average rating of "Moderate Buy" and a consensus 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.