Charles Schwab Investment Management Inc. Acquires 1,103,341 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Charles Schwab Investment Management Inc. boosted its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 58.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,001,603 shares of the biopharmaceutical company’s stock after purchasing an additional 1,103,341 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Royalty Pharma were worth $84,915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RPRX. Versant Capital Management Inc increased its position in shares of Royalty Pharma by 5,215.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 1,043 shares during the last quarter. Blue Trust Inc. raised its position 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 acquiring an additional 943 shares in the last quarter. Gladius Capital Management LP acquired a new stake in Royalty Pharma in the second quarter valued at $32,000. EverSource Wealth Advisors LLC grew 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 acquiring an additional 655 shares during the period. Finally, iA Global Asset Management Inc. grew its position in shares of Royalty Pharma by 274.7% in the 2nd quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock valued at $168,000 after acquiring an additional 4,683 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $26.60 on Thursday. The company has a market capitalization of $15.67 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 4.65 and a beta of 0.47. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 12 month low of $25.10 and a 12 month high of $31.66. The stock’s 50 day moving average is $27.19 and its 200-day moving average is $27.35.

Royalty Pharma Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RPRX shares. The Goldman Sachs Group upped their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup decreased their target price on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Royalty Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $41.67.

About Royalty Pharma

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.