Corning Incorporated $GLW Stock Holdings Cut by NewEdge Wealth LLC

NewEdge Wealth LLC lessened its position in Corning Incorporated (NYSE:GLW) by 40.5% during the first quarter, Holdings Channel reports. The institutional investor owned 61,626 shares of the electronics maker’s stock after selling 41,986 shares during the quarter. NewEdge Wealth LLC’s holdings in Corning were worth $8,379,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after purchasing an additional 580,678 shares in the last quarter. State Street Corp raised its holdings in shares of Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after purchasing an additional 439,883 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after purchasing an additional 517,067 shares in the last quarter. Capital Research Global Investors lifted its stake in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after purchasing an additional 1,036,988 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Performance

Shares of GLW opened at $155.91 on Friday. The company has a 50-day moving average of $188.92 and a two-hundred day moving average of $155.20. The stock has a market cap of $134.18 billion, a price-to-earnings ratio of 74.60, a PEG ratio of 2.03 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a one year low of $54.89 and a one year high of $271.78.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 net margin of 11.09% and a return on equity of 19.45%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts expect that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is presently 53.59%.

Insider Activity at Corning

In other news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 160,655 shares of company stock worth $30,692,560. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GLW. JPMorgan Chase & Co. raised their target price on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Citigroup raised their price objective on Corning from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $194.69.

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.