Full Truck Alliance Co. Ltd. (NYSE:YMM) Holdings Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) by 37.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,875,367 shares of the company’s stock after purchasing an additional 10,383,716 shares during the quarter. JPMorgan Chase & Co. owned 3.59% of Full Truck Alliance worth $409,811,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in shares of Full Truck Alliance by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company’s stock worth $8,217,000 after buying an additional 100,080 shares during the last quarter. Citigroup Inc. raised its stake in Full Truck Alliance by 6.0% during the third quarter. Citigroup Inc. now owns 483,469 shares of the company’s stock worth $4,356,000 after acquiring an additional 27,303 shares during the period. Quantbot Technologies LP lifted its holdings in Full Truck Alliance by 4,028.6% in the third quarter. Quantbot Technologies LP now owns 121,258 shares of the company’s stock worth $1,093,000 after acquiring an additional 118,321 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Full Truck Alliance in the third quarter valued at approximately $4,218,000. Finally, Bamco Inc. NY grew its holdings in shares of 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. Institutional investors and hedge funds own 39.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on YMM. Hsbc Global Res upgraded shares of Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $18.00 in a report on Thursday, March 6th. Citigroup increased their price objective on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. HSBC assumed coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Barclays increased their price target on Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Full Truck Alliance currently has an average rating of “Buy” and a consensus target price of $16.40.

Full Truck Alliance Price Performance

Shares of NYSE:YMM opened at $12.89 on Friday. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 30.68 and a beta of 0.25. Full Truck Alliance Co. Ltd. has a 12 month low of $6.66 and a 12 month high of $13.85. The stock’s 50 day moving average price is $12.30 and its 200 day moving average price is $10.57.

Full Truck Alliance Increases Dividend

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