Full Truck Alliance Co. Ltd. (NYSE:YMM) Stock Position Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,349,189 shares of the company's stock after selling 68,286 shares during the quarter. Pictet Asset Management Holding SA owned 0.22% of Full Truck Alliance worth $25,418,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Full Truck Alliance during the fourth quarter worth about $101,649,000. JPMorgan Chase & Co. grew its stake in Full Truck Alliance by 37.8% during the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company's stock valued at $409,811,000 after purchasing an additional 10,383,716 shares in the last quarter. Brilliance Asset Management Ltd. increased its holdings in Full Truck Alliance by 29.5% during the 4th quarter. Brilliance Asset Management Ltd. now owns 4,193,580 shares of the company's stock worth $45,375,000 after purchasing an additional 954,124 shares during the last quarter. AI Squared Management Ltd acquired a new position in shares of Full Truck Alliance in the 4th quarter valued at approximately $3,159,000. Finally, Keystone Investors PTE Ltd. purchased a new position in shares of Full Truck Alliance during the 4th quarter valued at approximately $6,405,000. Hedge funds and other institutional investors own 39.02% of the company's stock.

Wall Street Analyst Weigh In

YMM has been the subject of a number of research analyst reports. Hsbc Global Res upgraded shares of Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday, February 26th. HSBC started coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They issued a "buy" rating and a $18.00 target price on the stock. Citigroup lifted their price target on Full Truck Alliance from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Industrial Alliance Securities set a $18.00 price objective on Full Truck Alliance in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. upgraded Full Truck Alliance from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $13.00 to $18.00 in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Full Truck Alliance has a consensus rating of "Buy" and an average price target of $16.40.

Full Truck Alliance Price Performance

Shares of NYSE:YMM traded down $1.46 during trading on Friday, reaching $11.08. 16,709,977 shares of the company's stock traded hands, compared to its average volume of 8,964,940. The company has a 50 day moving average of $12.41 and a 200-day moving average of $10.75. Full Truck Alliance Co. Ltd. has a 12 month low of $6.66 and a 12 month high of $13.85. The stock has a market capitalization of $11.67 billion, a P/E ratio of 26.37 and a beta of 0.19.

Full Truck Alliance Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, April 7th will be issued a $0.1444 dividend. This is an increase from Full Truck Alliance's previous annual dividend of $0.14. The ex-dividend date is Monday, April 7th. This represents a dividend yield of 0.9%. Full Truck Alliance's dividend payout ratio (DPR) is 39.02%.

Full Truck Alliance Company Profile

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.