Angeles Wealth Management LLC Purchases Shares of 4,126 Corning Incorporated $GLW

Angeles Wealth Management LLC purchased a new stake in shares of Corning Incorporated (NYSE:GLW) in the second quarter, Holdings Channel.com reports. The firm purchased 4,126 shares of the electronics maker’s stock, valued at approximately $217,000.

A number of other hedge funds have also added to or reduced their stakes in GLW. REAP Financial Group LLC boosted its stake in shares of Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after buying an additional 339 shares during the last quarter. Investment Management Corp VA ADV boosted its stake in shares of Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after buying an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after buying an additional 353 shares during the last quarter. Resources Management Corp CT ADV boosted its stake in shares of Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after buying an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc boosted its stake in shares of Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after buying an additional 455 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GLW. Morgan Stanley boosted their target price on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Argus restated a “buy” rating and issued a $68.00 target price on shares of Corning in a research note on Wednesday, July 30th. UBS Group boosted their target price on Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Mizuho lifted their price target on shares of Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Buying and Selling at Corning

In other Corning news, COO Avery H. Nelson III sold 36,240 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the sale, the chief operating officer owned 64,838 shares of the company’s stock, valued at $4,036,813.88. The trade was a 35.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lewis A. Steverson sold 16,646 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. The trade was a 29.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,671 shares of company stock worth $11,816,899. Company insiders own 0.40% of the company’s stock.

Corning Trading Down 2.6%

NYSE:GLW opened at $84.49 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $72.38 billion, a PE ratio of 89.88, a price-to-earnings-growth ratio of 1.89 and a beta of 1.14. The firm’s 50 day moving average is $75.33 and its 200 day moving average is $58.62. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $87.78.

Corning (NYSE:GLW) last issued its earnings results 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 net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning’s payout ratio is presently 119.15%.

Corning Company 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.