Wealthcare Advisory Partners LLC Sells 10,049 Shares of Corning Incorporated $GLW

Wealthcare Advisory Partners LLC decreased its holdings in shares of Corning Incorporated (NYSE:GLW) by 29.3% during the fourth quarter, HoldingsChannel reports. The firm owned 24,302 shares of the electronics maker’s stock after selling 10,049 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Corning were worth $2,128,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Capital Research Global Investors bought a new position in shares of Corning during the third quarter valued at approximately $907,164,000. Norges Bank bought a new position in Corning in the second quarter worth approximately $534,936,000. WCM Investment Management LLC purchased a new stake in Corning during the third quarter worth $676,931,000. Wellington Management Group LLP lifted its holdings in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after buying an additional 3,848,540 shares during the period. Finally, Voya Investment Management LLC boosted its position in Corning by 748.0% during the 3rd quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock valued at $260,014,000 after acquiring an additional 2,795,948 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GLW. Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Wolfe Research set a $130.00 price objective on Corning and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Morgan Stanley boosted their target price on shares of Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Bank of America increased their target price on shares of Corning from $144.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Finally, UBS Group increased their price objective on Corning from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 20th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $132.67.

Insider Buying and Selling at Corning

In other news, VP John Z. Zhang sold 1,531 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $133.75, for a total value of $204,771.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Avery H. Nelson III sold 1,583 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $128.74, for a total value of $203,795.42. Following the completion of the transaction, the chief operating officer owned 59,788 shares of the company’s stock, valued at approximately $7,697,107.12. The trade was a 2.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 233,201 shares of company stock worth $32,614,558. 0.40% of the stock is owned by corporate insiders.

Corning Stock Up 0.1%

NYSE:GLW opened at $136.94 on Monday. The company has a market cap of $117.64 billion, a PE ratio of 74.43, a P/E/G ratio of 2.16 and a beta of 1.05. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $162.10. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $126.73 and its two-hundred day moving average is $99.99.

Corning (NYSE:GLW) last posted its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter last year, the company posted $0.57 earnings per share. The business’s quarterly revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Corning’s payout ratio is currently 60.87%.

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.