9,394,530 Shares in Full Truck Alliance Co. Ltd. (NYSE:YMM) Bought by Norges Bank

Norges Bank bought a new stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,394,530 shares of the company's stock, valued at approximately $101,649,000. Norges Bank owned about 0.89% of Full Truck Alliance as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of YMM. SBI Securities Co. Ltd. purchased a new stake in Full Truck Alliance during the fourth quarter valued at about $64,000. Truist Financial Corp acquired a new stake in shares of Full Truck Alliance during the fourth quarter valued at approximately $143,000. Savant Capital LLC purchased a new stake in shares of Full Truck Alliance in the 4th quarter valued at approximately $194,000. Wilmington Savings Fund Society FSB acquired a new position in Full Truck Alliance in the 3rd quarter worth approximately $207,000. Finally, EverSource Wealth Advisors LLC grew its position in Full Truck Alliance by 2,104.9% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 39.02% of the company's stock.

Analyst Ratings Changes

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

Full Truck Alliance Stock Performance

Shares of NYSE YMM traded down $1.46 during trading hours on Friday, hitting $11.08. The stock had a trading volume of 16,709,977 shares, compared to its average volume of 8,964,940. The firm's 50-day moving average price is $12.41 and its two-hundred day moving average price is $10.78. 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 capitalization of $11.67 billion, a P/E ratio of 26.37 and a beta of 0.19.

Full Truck Alliance Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.1444 per share. This is a positive change from Full Truck Alliance's previous annual dividend of $0.14. The ex-dividend date of this dividend is Monday, April 7th. This represents a dividend 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.