Advisors Asset Management Inc. Makes New Investment in Royalty Pharma plc (NASDAQ:RPRX)

Advisors Asset Management Inc. bought a new stake in Royalty Pharma plc (NASDAQ:RPRX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,698 shares of the biopharmaceutical company’s stock, valued at approximately $359,000.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc lifted its holdings 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 purchased a new stake in Royalty Pharma in the second quarter valued at $32,000. Blue Trust Inc. lifted its stake 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 grew its holdings in shares of Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 655 shares during the period. Finally, iA Global Asset Management Inc. increased its position 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 worth $168,000 after purchasing an additional 4,683 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Up 1.2 %

RPRX stock opened at $26.60 on Friday. The company’s 50 day moving average price is $27.16 and its 200 day moving average price is $27.34. The firm 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. Royalty Pharma plc has a fifty-two week low of $25.10 and a fifty-two week high of $31.66. 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 Dividend Announcement

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 issued 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 dividend yield of 3.16%. Royalty Pharma’s payout ratio is 43.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RPRX shares. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group upped their price target on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Citigroup cut their price objective 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 issued a buy rating to the stock. According to data from MarketBeat, Royalty Pharma has a consensus rating of “Moderate Buy” and an average 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.