Charles Schwab Investment Management Inc. Has $84.92 Million Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Charles Schwab Investment Management Inc. increased its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 58.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,001,603 shares of the biopharmaceutical company’s stock after acquiring an additional 1,103,341 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.51% of Royalty Pharma worth $84,915,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Swedbank AB grew its holdings in Royalty Pharma by 2.0% during the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock worth $311,964,000 after acquiring an additional 213,900 shares during the period. New South Capital Management Inc. lifted its stake in Royalty Pharma by 5.0% in the third quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company’s stock valued at $69,774,000 after buying an additional 117,394 shares during the period. Bank of New York Mellon Corp boosted its holdings in Royalty Pharma by 6.0% during the second quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company’s stock worth $40,428,000 after buying an additional 86,248 shares during the last quarter. Regal Partners Ltd grew its position in shares of Royalty Pharma by 22.7% during the 2nd quarter. Regal Partners Ltd now owns 1,177,601 shares of the biopharmaceutical company’s stock worth $31,053,000 after buying an additional 217,774 shares during the period. Finally, Swiss National Bank increased its stake in shares of Royalty Pharma by 1.5% in the 3rd quarter. Swiss National Bank now owns 1,140,600 shares of the biopharmaceutical company’s stock valued at $32,268,000 after acquiring an additional 17,000 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RPRX. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Citigroup decreased their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, The Goldman Sachs Group raised their price objective on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $26.60 on Thursday. The company has a fifty day moving average price of $27.19 and a 200 day moving average price of $27.35. The firm has a market cap of $15.67 billion, a PE 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 1-year low of $25.10 and a 1-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. Stockholders of record on Friday, November 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.16%. Royalty Pharma’s dividend 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.