Soltis Investment Advisors LLC Sells 58,885 Shares of Corning Incorporated $GLW

Soltis Investment Advisors LLC lessened its stake in Corning Incorporated (NYSE:GLW) by 53.1% in the fourth quarter, HoldingsChannel reports. The firm owned 52,069 shares of the electronics maker’s stock after selling 58,885 shares during the period. Soltis Investment Advisors LLC’s holdings in Corning were worth $4,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning in the third quarter worth about $25,000. Strengthening Families & Communities LLC bought a new stake in shares of Corning in the third quarter worth about $27,000. Cornerstone Planning Group LLC increased its holdings in shares of Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after acquiring an additional 124 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Corning in the third quarter worth about $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Corning in the fourth quarter worth about $35,000. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 137,514 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the sale, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at $116,618,391.45. This trade represents a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP John Z. Zhang sold 10,000 shares of the firm’s 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 of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 170,774 shares of company stock valued at $28,148,435. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GLW shares. UBS Group increased their price target on Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Zacks Research upgraded Corning from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Mizuho increased their price target on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Citigroup increased their price target on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Wolfe Research set a $130.00 price target on Corning and gave the stock an “outperform” rating in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.92.

Corning Stock Performance

Shares of NYSE GLW opened at $192.18 on Friday. The stock has a 50 day moving average price of $156.22 and a 200 day moving average price of $119.68. Corning Incorporated has a 52 week low of $47.40 and a 52 week high of $211.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The stock has a market capitalization of $165.40 billion, a PE ratio of 91.95, a price-to-earnings-growth ratio of 2.74 and a beta of 1.14.

Corning (NYSE:GLW) last issued its quarterly 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 firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s dividend payout ratio is 53.59%.

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.