VCI Wealth Management LLC Purchases Shares of 8,324 Corning Incorporated $GLW

VCI Wealth Management LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,324 shares of the electronics maker’s stock, valued at approximately $1,132,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Corning in the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC acquired a new position in Corning in the 4th quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in Corning in the fourth quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Corning during the 4th quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in Corning during the fourth quarter valued at about $31,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GLW shares. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Barclays increased their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Truist Financial upped their price objective on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday. Finally, UBS Group lifted their price target on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $182.62.

Insider Activity

In related news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is currently owned by company insiders.

Corning Stock Performance

Shares of GLW stock opened at $223.00 on Friday. The company has a market capitalization of $191.92 billion, a P/E ratio of 106.70, a price-to-earnings-growth ratio of 3.26 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a 52 week low of $51.32 and a 52 week high of $230.50. The company’s 50 day moving average price is $184.70 and its two-hundred day moving average price is $141.72.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping 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 company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is presently 53.59%.

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.