Advisors Asset Management Inc. Purchases Shares of 12,698 Royalty Pharma plc (NASDAQ:RPRX)

Advisors Asset Management Inc. acquired a new position in shares of Royalty Pharma plc (NASDAQ:RPRX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 12,698 shares of the biopharmaceutical company’s stock, valued at approximately $359,000.

A number of other hedge funds have also recently modified their holdings of RPRX. Versant Capital Management Inc lifted its position in Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 1,043 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Royalty Pharma during the second quarter worth about $32,000. Blue Trust Inc. lifted its holdings in shares of Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position 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 period. Finally, iA Global Asset Management Inc. grew its stake in 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 worth $168,000 after buying an additional 4,683 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RPRX shares. Citigroup decreased their price objective on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group raised their price objective 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. Finally, StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Royalty Pharma Stock Up 1.2 %

RPRX stock opened at $26.60 on Friday. The stock has a market capitalization of $15.67 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 4.65 and a beta of 0.47. The company has a fifty day moving average of $27.16 and a 200-day moving average of $27.34. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54. Royalty Pharma plc has a one year low of $25.10 and a one year high of $31.66.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.16%. Royalty Pharma’s payout ratio is currently 43.52%.

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.