Invesco Ltd. Cuts Holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Invesco Ltd. reduced its position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,048,308 shares of the company's stock after selling 953,797 shares during the period. Invesco Ltd. owned 2.85% of Full Truck Alliance worth $325,123,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Full Truck Alliance by 37.8% in the fourth 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 in the last quarter. Norges Bank bought a new stake in Full Truck Alliance in the fourth quarter worth about $101,649,000. Empower Harvest Management Services Inc. purchased a new position in Full Truck Alliance in the fourth quarter valued at about $97,058,000. Davis Selected Advisers bought a new position in shares of Full Truck Alliance during the 4th quarter valued at approximately $58,432,000. Finally, North of South Capital LLP increased its stake in shares of Full Truck Alliance by 74.8% during the 4th quarter. North of South Capital LLP now owns 5,692,489 shares of the company's stock worth $61,593,000 after purchasing an additional 2,436,130 shares during the last quarter. 39.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

YMM has been the topic of a number of recent research reports. HSBC assumed coverage on Full Truck Alliance in a research report on Wednesday, February 26th. They set a "buy" rating and a $18.00 price target on the stock. JPMorgan Chase & Co. lowered Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $18.00 to $10.00 in a research note on Monday. Hsbc Global Res raised Full Truck Alliance to a "strong-buy" rating in a report on Wednesday, February 26th. Barclays raised their price objective 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, Industrial Alliance Securities set a $18.00 price objective on Full Truck Alliance in a research note on Thursday, March 6th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $14.80.

Full Truck Alliance Stock Up 4.9 %

Shares of YMM traded up $0.48 during trading hours on Tuesday, reaching $10.34. 4,904,307 shares of the company traded hands, compared to its average volume of 9,250,579. Full Truck Alliance Co. Ltd. has a 12 month low of $6.66 and a 12 month high of $13.85. The company has a market capitalization of $10.89 billion, a price-to-earnings ratio of 24.62 and a beta of 0.19. The company's fifty day moving average price is $12.23 and its two-hundred day moving average price is $10.87.

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 issued a $0.1444 dividend. This represents a yield of 0.9%. The ex-dividend date is Monday, April 7th. This is a boost from Full Truck Alliance's previous annual dividend of $0.14. Full Truck Alliance's dividend payout ratio is 39.02%.

Full Truck Alliance Company 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.