Allspring Global Investments Holdings LLC Boosts Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Allspring Global Investments Holdings LLC increased its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 303.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 539,995 shares of the biopharmaceutical company’s stock after purchasing an additional 406,123 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.09% of Royalty Pharma worth $13,926,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RPRX. Swedbank AB grew its position in Royalty Pharma by 10.3% during the fourth quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company’s stock worth $310,308,000 after buying an additional 1,136,800 shares during the period. State Street Corp grew its position in Royalty Pharma by 0.3% during the third quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company’s stock worth $269,215,000 after buying an additional 29,451 shares during the period. Geode Capital Management LLC grew its position in Royalty Pharma by 6.1% during the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock worth $205,562,000 after buying an additional 417,490 shares during the period. Two Sigma Advisers LP grew its position in Royalty Pharma by 44.7% during the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock worth $85,809,000 after buying an additional 936,900 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Royalty Pharma by 58.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock worth $84,915,000 after buying an additional 1,103,341 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $32.36 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The company has a market cap of $19.07 billion, a P/E ratio of 16.77 and a beta of 0.49. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $32.89. The firm’s 50 day moving average is $28.55 and its two-hundred day moving average is $27.79.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 50.53% and a return on equity of 24.65%. Analysts expect that Royalty Pharma plc will post 4.08 EPS for the current year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s dividend payout ratio (DPR) is currently 43.52%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RPRX. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Citigroup lowered their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $41.67.

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.