Private Advisor Group LLC Has $13.71 Million Stock Position in Corning Incorporated $GLW

Private Advisor Group LLC reduced its holdings in shares of Corning Incorporated (NYSE:GLW) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,807 shares of the electronics maker’s stock after selling 7,023 shares during the quarter. Private Advisor Group LLC’s holdings in Corning were worth $13,707,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Leonteq Securities AG acquired a new position in Corning during the 1st quarter worth approximately $321,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Corning by 53.8% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 266,871 shares of the electronics maker’s stock worth $36,286,000 after buying an additional 93,300 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its stake in shares of Corning by 25.6% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 8,698 shares of the electronics maker’s stock valued at $1,183,000 after acquiring an additional 1,775 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Corning by 25.9% during the 1st quarter. Sound Income Strategies LLC now owns 725 shares of the electronics maker’s stock valued at $103,000 after acquiring an additional 149 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. increased its holdings in Corning by 1.2% in the 1st quarter. Jamison Private Wealth Management Inc. now owns 81,005 shares of the electronics maker’s stock worth $11,014,000 after purchasing an additional 997 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Transactions at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

GLW has been the topic of several research reports. Oppenheimer boosted their price target on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Truist Financial lifted their price target on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Susquehanna increased their price objective on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Finally, Mizuho lifted their target price on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $186.46.

Corning Stock Performance

Shares of Corning stock opened at $196.12 on Friday. The business has a 50-day moving average price of $190.59 and a two-hundred day moving average price of $146.38. Corning Incorporated has a 1-year low of $51.32 and a 1-year 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. The company has a market cap of $168.79 billion, a P/E ratio of 93.84, a PEG ratio of 2.82 and a beta of 1.09.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

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

About Corning

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.