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

US Bancorp DE trimmed its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 35.0% in the third quarter, HoldingsChannel reports. The firm 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 Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. grew its position in shares of Royalty Pharma by 41.1% in the third quarter. First Trust Direct Indexing L.P. now owns 26,847 shares of the biopharmaceutical company’s stock valued at $760,000 after purchasing an additional 7,817 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Royalty Pharma by 62.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 86,190 shares of the biopharmaceutical company’s stock valued at $2,438,000 after buying an additional 33,206 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Royalty Pharma by 2.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 746,287 shares of the biopharmaceutical company’s stock worth $20,836,000 after buying an additional 17,159 shares during the period. Forsta AP Fonden increased its position in Royalty Pharma by 2.8% during the 3rd quarter. Forsta AP Fonden now owns 242,400 shares of the biopharmaceutical company’s stock worth $6,857,000 after buying an additional 6,500 shares during the period. Finally, Lake Street Advisors Group LLC bought a new stake in shares of Royalty Pharma in the third quarter valued at about $211,000. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $25.70 on Friday. Royalty Pharma plc has a one year low of $25.10 and a one year high of $31.66. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. 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. The firm has a 50 day simple moving average of $27.47 and a 200 day simple moving average of $27.46.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s payout ratio is 43.52%.

Wall Street Analyst Weigh In

A number of research firms recently commented on RPRX. 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. StockNews.com raised 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 upped their target price 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 research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently 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.