Bard Financial Services Inc. Purchases 3,525 Shares of Corning Incorporated $GLW

Bard Financial Services Inc. raised its position in Corning Incorporated (NYSE:GLW) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,650 shares of the electronics maker’s stock after acquiring an additional 3,525 shares during the quarter. Bard Financial Services Inc.’s holdings in Corning were worth $3,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vermillion Wealth Management Inc. purchased a new position in Corning during the 4th quarter valued at about $29,000. Putney Financial Group LLC bought a new stake in shares of Corning in the 4th quarter worth approximately $30,000. Investment Management Corp VA ADV increased its stake in shares of Corning by 165.9% during the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after buying an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 353 shares in the last quarter. Finally, Banque Transatlantique SA purchased a new stake in Corning in the first quarter worth $34,000. 69.80% of the stock is owned by institutional investors.

Corning Stock Performance

Corning stock opened at $77.03 on Monday. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $77.87. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $65.99 billion, a P/E ratio of 81.95, a PEG ratio of 1.73 and a beta of 1.09. The stock’s 50 day moving average is $62.75 and its 200 day moving average is $52.52.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. Corning’s dividend payout ratio is 119.15%.

Insider Activity at Corning

In other news, SVP Michael Paul O’day sold 14,879 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the sale, the senior vice president owned 35,743 shares in the company, valued at $2,228,933.48. This represents a 29.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the sale, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at $52,757,941.05. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,950 shares of company stock worth $10,449,192 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GLW has been the topic of several research analyst reports. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday. Oppenheimer reiterated an “outperform” rating and set a $72.00 target price (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Susquehanna reaffirmed a “positive” rating and issued a $75.00 price target (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Mizuho increased their price objective on Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.75.

About Corning

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.