Wealthstar Advisors LLC Sells 3,398 Shares of Corning Incorporated $GLW

Wealthstar Advisors LLC lessened its holdings in Corning Incorporated (NYSE:GLW) by 17.8% during the first quarter, Holdings Channel.com reports. The firm owned 15,694 shares of the electronics maker’s stock after selling 3,398 shares during the quarter. Corning comprises about 1.0% of Wealthstar Advisors LLC’s portfolio, making the stock its 17th largest holding. Wealthstar Advisors LLC’s holdings in Corning were worth $2,134,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Merit Financial Group LLC increased its position in Corning by 16.9% during the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after buying an additional 6,493 shares in the last quarter. Security National Bank raised its stake in Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after buying an additional 56,056 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after acquiring an additional 116,583 shares in the last quarter. Three Seasons Wealth LLC bought a new stake in Corning in the fourth quarter worth $1,750,000. Finally, RiverFront Investment Group LLC grew its stake in shares of Corning by 65.4% in the fourth quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker’s stock worth $1,289,000 after acquiring an additional 5,818 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of GLW opened at $196.12 on Friday. The company has a market cap of $168.79 billion, a price-to-earnings ratio of 93.84, a P/E/G ratio of 2.82 and a beta of 1.09. The business’s fifty day simple moving average is $190.59 and its two-hundred day simple moving average is $146.38. Corning Incorporated has a 12 month low of $51.32 and a 12 month high of $271.78. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning’s payout ratio is 53.59%.

Insiders Place Their Bets

In other news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock worth $30,692,560 in the last quarter. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GLW shares. Morgan Stanley set a $180.00 price target on Corning in a report on Friday, May 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Truist Financial increased their price objective on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. UBS Group raised their price objective on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, Citigroup lifted their target price on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.46.

Corning Company Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.