9,800 Shares in Corning Incorporated $GLW Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new stake in Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,800 shares of the electronics maker’s stock, valued at approximately $2,503,000.

A number of other large investors also recently bought and sold shares of GLW. Security National Bank grew its holdings in shares of Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after purchasing an additional 56,056 shares in the last quarter. Herbst Group LLC purchased a new position in Corning in the 2nd quarter valued at approximately $4,474,000. Principal Financial Group Inc. boosted its position in Corning by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after buying an additional 10,591 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Corning by 36.2% in the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after acquiring an additional 24,589 shares in the last quarter. Finally, Atlas Wealth LLC grew its stake in shares of Corning by 137.8% in the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after acquiring an additional 6,998 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. UBS Group reissued a “buy” rating and set a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Oppenheimer reduced their price target on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and decreased their price objective for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Finally, Citigroup lowered their price objective on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Corning Price Performance

Corning stock opened at $149.91 on Monday. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $174.83 and a 200-day simple moving average of $163.72. The stock has a market cap of $129.13 billion, a P/E ratio of 68.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. Corning Incorporated has a 12-month low of $65.09 and a 12-month high of $271.78.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s dividend payout ratio is presently 51.14%.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business’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 transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

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.