Truist Financial Corp Invests $143,000 in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Truist Financial Corp acquired a new position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,240 shares of the company’s stock, valued at approximately $143,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Alkeon Capital Management LLC boosted its position in Full Truck Alliance by 3.9% during the third quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock valued at $218,732,000 after purchasing an additional 921,820 shares during the last quarter. Bamco Inc. NY boosted its position in Full Truck Alliance by 1.2% during the third quarter. Bamco Inc. NY now owns 10,405,899 shares of the company’s stock valued at $93,757,000 after purchasing an additional 125,853 shares during the last quarter. Empower Harvest Management Services Inc. acquired a new position in Full Truck Alliance during the fourth quarter valued at approximately $97,058,000. Nomura Asset Management Co. Ltd. boosted its position in Full Truck Alliance by 9.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 5,156,188 shares of the company’s stock valued at $46,457,000 after purchasing an additional 444,884 shares during the last quarter. Finally, State Street Corp boosted its position in Full Truck Alliance by 6.4% during the third quarter. State Street Corp now owns 2,609,508 shares of the company’s stock valued at $23,512,000 after purchasing an additional 155,834 shares during the last quarter. 39.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on YMM. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. 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. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $13.00 to $18.00 in a research report on Thursday. Finally, Citigroup raised their price objective on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One research 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $14.50.

Full Truck Alliance Trading Down 0.5 %

Shares of NYSE YMM opened at $13.22 on Friday. The firm has a market cap of $13.92 billion, a P/E ratio of 31.47 and a beta of 0.25. Full Truck Alliance Co. Ltd. has a 1-year low of $6.18 and a 1-year high of $13.53. The business’s 50 day moving average is $11.58 and its 200-day moving average is $9.91.

Full Truck Alliance Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, April 18th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.1444 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a dividend yield of 0.9%. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. Full Truck Alliance’s dividend payout ratio (DPR) is 46.34%.

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.