US Bancorp DE Has $108,000 Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

US Bancorp DE trimmed its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 35.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,806 shares of the biopharmaceutical company’s stock after selling 2,050 shares during the quarter. US Bancorp DE’s holdings in Royalty Pharma were worth $108,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RPRX. Allspring Global Investments Holdings LLC increased its holdings in Royalty Pharma by 4,335.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,750 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 2,688 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Royalty Pharma by 9.7% during the first quarter. ProShare Advisors LLC now owns 31,305 shares of the biopharmaceutical company’s stock worth $951,000 after buying an additional 2,764 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Royalty Pharma by 15.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 216,435 shares of the biopharmaceutical company’s stock valued at $6,573,000 after buying an additional 29,672 shares during the last quarter. Intech Investment Management LLC bought a new stake in Royalty Pharma in the 1st quarter valued at approximately $386,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in Royalty Pharma during the 1st quarter worth approximately $312,000. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Royalty Pharma Price Performance

Shares of RPRX opened at $25.70 on Friday. 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’s fifty day simple moving average is $27.47 and its 200 day simple moving average is $27.46. Royalty Pharma plc has a 1-year low of $25.10 and a 1-year high of $31.66. The company has a market cap of $15.25 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 3.78 and a beta of 0.47.

Royalty Pharma Dividend Announcement

The company also recently announced 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 3.27%. Royalty Pharma’s payout ratio is 43.52%.

Royalty Pharma 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.