Hsbc Holdings PLC Boosts Stake in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Hsbc Holdings PLC increased its position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,480,430 shares of the company's stock after buying an additional 321,796 shares during the period. Hsbc Holdings PLC owned 0.24% of Full Truck Alliance worth $26,858,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FIL Ltd boosted its stake in shares of Full Truck Alliance by 83.0% during the 4th quarter. FIL Ltd now owns 51,730,620 shares of the company's stock worth $559,725,000 after acquiring an additional 23,468,794 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Full Truck Alliance by 37.8% in the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company's stock valued at $409,811,000 after acquiring an additional 10,383,716 shares during the period. Vanguard Group Inc. increased its holdings in Full Truck Alliance by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company's stock worth $313,164,000 after acquiring an additional 295,301 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. lifted its holdings in Full Truck Alliance by 7.4% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company's stock valued at $281,534,000 after purchasing an additional 1,802,420 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Full Truck Alliance in the fourth quarter valued at about $101,649,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on YMM. Barclays raised their target price on Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. cut Full Truck Alliance from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $18.00 to $10.00 in a report on Monday, April 14th. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research report on Thursday, March 6th. HSBC started coverage on Full Truck Alliance in a research report on Wednesday, February 26th. They set a "buy" rating and a $18.00 price objective on the stock. Finally, Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Full Truck Alliance has an average rating of "Buy" and an average target price of $14.80.

Full Truck Alliance Price Performance

Shares of YMM stock traded up $0.54 during trading on Friday, hitting $11.85. 3,447,010 shares of the stock traded hands, compared to its average volume of 9,220,850. Full Truck Alliance Co. Ltd. has a 52-week low of $6.66 and a 52-week high of $13.85. The firm has a market capitalization of $12.39 billion, a P/E ratio of 28.20 and a beta of 0.19. The firm's fifty day moving average price is $11.80 and its 200-day moving average price is $10.97.

Full Truck Alliance Increases Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, April 7th were paid a $0.1444 dividend. This represents a dividend yield of 0.9%. The ex-dividend date was Monday, April 7th. This is a positive change from Full Truck Alliance's previous annual dividend of $0.14. Full Truck Alliance's dividend payout ratio is 39.02%.

Full Truck Alliance 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.