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

Private Advisor Group LLC cut its stake in Corning Incorporated (NYSE:GLW) by 6.5% in the 1st quarter, according to the company in its most recent disclosure 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Corning in the third quarter valued at about $25,000. Berbice Capital Management LLC purchased a new stake in Corning in the 4th quarter valued at about $26,000. Basepoint Wealth LLC bought a new position in shares of Corning during the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Corning in the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GLW shares. UBS Group lifted their target price on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Susquehanna upped their price objective on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Morgan Stanley set a $180.00 price target on Corning in a research report on Friday, May 8th. Bank of America boosted their price objective on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Ten equities 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.46.

Corning Stock Performance

Corning stock opened at $196.12 on Friday. 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 Incorporated has a 1-year low of $51.32 and a 1-year high of $271.78. The firm has a market capitalization of $168.79 billion, a PE ratio of 93.84, a price-to-earnings-growth ratio of 2.82 and a beta of 1.09. The firm’s 50 day simple moving average is $190.59 and its 200 day simple moving average is $146.38.

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

Corning Dividend Announcement

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

Insider Buying and Selling at Corning

In other news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by company insiders.

Corning 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.