Corning Incorporated (NYSE:GLW) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in Corning Incorporated (NYSE:GLW) by 7.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 46,813 shares of the electronics maker’s stock after acquiring an additional 3,445 shares during the period. Apollon Wealth Management LLC’s holdings in Corning were worth $2,225,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. West Oak Capital LLC raised its stake in shares of Corning by 0.4% in the 3rd quarter. West Oak Capital LLC now owns 51,565 shares of the electronics maker’s stock valued at $2,328,000 after acquiring an additional 215 shares during the period. Buffington Mohr McNeal raised its position in Corning by 2.1% in the fourth quarter. Buffington Mohr McNeal now owns 10,461 shares of the electronics maker’s stock valued at $497,000 after purchasing an additional 220 shares during the period. Sound Income Strategies LLC lifted its stake in Corning by 76.7% during the fourth quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 227 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in shares of Corning by 4.5% during the third quarter. Lake Street Advisors Group LLC now owns 5,444 shares of the electronics maker’s stock worth $246,000 after buying an additional 232 shares during the period. Finally, Goelzer Investment Management Inc. grew its stake in shares of Corning by 0.4% in the fourth quarter. Goelzer Investment Management Inc. now owns 65,816 shares of the electronics maker’s stock valued at $3,128,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Transactions at Corning

In related news, COO Eric S. Musser sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the transaction, the chief operating officer now owns 152,944 shares in the company, valued at $7,940,852.48. This trade represents a 16.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael Alan Bell sold 2,209 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,085 shares of company stock worth $2,345,436. Corporate insiders own 0.40% of the company’s stock.

Corning Stock Performance

Shares of Corning stock opened at $52.99 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 52 week low of $30.72 and a 52 week high of $55.33. The firm’s 50 day moving average is $49.22 and its two-hundred day moving average is $45.94. The firm has a market capitalization of $45.37 billion, a P/E ratio of 91.36, a P/E/G ratio of 1.55 and a beta of 1.03.

Corning (NYSE:GLW) last posted its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. Research analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and raised their price objective for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Finally, Morgan Stanley upped their price objective on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Corning Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.