Full Truck Alliance Co. Ltd. (NYSE:YMM) Shares Sold by Westpac Banking Corp

Westpac Banking Corp trimmed its position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 520,006 shares of the company’s stock after selling 58,269 shares during the period. Westpac Banking Corp’s holdings in Full Truck Alliance were worth $5,626,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in YMM. SBI Securities Co. Ltd. purchased a new stake in shares of Full Truck Alliance in the 4th quarter valued at approximately $64,000. Truist Financial Corp acquired a new position in shares of Full Truck Alliance during the fourth quarter worth $143,000. Savant Capital LLC purchased a new position in Full Truck Alliance in the fourth quarter valued at $194,000. Wilmington Savings Fund Society FSB acquired a new stake in Full Truck Alliance in the third quarter valued at $207,000. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Full Truck Alliance by 20.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company’s stock worth $221,000 after buying an additional 3,442 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 analysts have recently commented on YMM shares. Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a report on Wednesday, February 26th. Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research note on Thursday, March 6th. Citigroup boosted their price objective on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays boosted their price target on shares of 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. Finally, JPMorgan Chase & Co. raised Full Truck Alliance from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $13.00 to $18.00 in a report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Full Truck Alliance has a consensus rating of “Buy” and a consensus target price of $16.40.

Full Truck Alliance Price Performance

Shares of Full Truck Alliance stock opened at $13.02 on Thursday. The firm’s fifty day simple moving average is $12.40 and its 200-day simple moving average is $10.69. 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 $13.72 billion, a price-to-earnings ratio of 31.00 and a beta of 0.25.

Full Truck Alliance Increases Dividend

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