Norges Bank Purchases Shares of 9,394,530 Full Truck Alliance Co. Ltd. (NYSE:YMM)

Norges Bank acquired a new position in Full Truck Alliance Co. Ltd. (NYSE:YMM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,394,530 shares of the company’s stock, valued at approximately $101,649,000. Norges Bank owned approximately 0.89% of Full Truck Alliance at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Full Truck Alliance in the fourth quarter worth approximately $64,000. Truist Financial Corp purchased a new stake in shares of Full Truck Alliance in the 4th quarter valued at $143,000. Savant Capital LLC bought a new position in shares of Full Truck Alliance during the 4th quarter valued at $194,000. Wilmington Savings Fund Society FSB purchased a new position in Full Truck Alliance in the 3rd quarter worth $207,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Full Truck Alliance by 2,104.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 21,145 shares of the company’s stock worth $229,000 after purchasing an additional 20,186 shares during the last quarter. 39.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays raised their price objective on Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. HSBC began coverage on Full Truck Alliance in a research report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $13.00 to $18.00 in a report on Thursday, March 6th. Hsbc Global Res upgraded shares of Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. Finally, Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $16.40.

Full Truck Alliance Stock Up 0.3 %

Shares of Full Truck Alliance stock opened at $12.81 on Wednesday. The business has a 50 day moving average of $12.36 and a 200 day moving average of $10.68. Full Truck Alliance Co. Ltd. has a 52 week low of $6.66 and a 52 week high of $13.85. The company has a market cap of $13.49 billion, a PE ratio of 30.49 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be issued a $0.1444 dividend. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. This represents a yield of 0.9%. Full Truck Alliance’s dividend payout ratio is 39.02%.

About Full Truck Alliance

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.