36,284 Shares in Corning Incorporated $GLW Bought by Allworth Financial LP

Key Points

• Allworth Financial LP purchased 36,284 Corning shares worth approximately $9.3 million in the second quarter. Institutional investors collectively own 69.8% of Corning’s outstanding stock.
• Analyst sentiment remains favorable, with 11 Buy ratings and five Holds, producing a consensus rating of “Moderate Buy” and an average price target of $174.08, despite several recent target-price cuts.
• Corning exceeded quarterly expectations, reporting $0.78 in adjusted EPS on $4.74 billion in revenue, while revenue rose 17.1% year over year. The company also declared a quarterly dividend of $0.28 per share, representing a 0.7% yield.

Allworth Financial LP purchased a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 36,284 shares of the electronics maker's stock, valued at approximately $9,268,000.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock worth $8,693,247,000 after purchasing an additional 580,678 shares during the last quarter. State Street Corp lifted its holdings in shares of Corning by 1.2% during the third 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 during the period. Geode Capital Management LLC grew its position in Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock valued at $1,781,250,000 after buying an additional 517,067 shares during the last quarter. Capital Research Global Investors grew its position in Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock valued at $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock valued at $724,432,000 after buying an additional 1,036,988 shares during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GLW. Truist Financial upgraded shares of Corning from a "hold" rating to a "buy" rating and reduced their target price for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. Bank of America boosted their price target on shares of Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 7th. Citigroup lowered their price objective on Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a report on Wednesday, July 29th. Finally, Barclays dropped their target price on Corning from $180.00 to $129.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Corning has an average rating of "Moderate Buy" and a consensus price target of $174.08.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company's stock.

Corning Stock Performance

GLW opened at $151.49 on Friday. Corning Incorporated has a 1-year low of $64.33 and a 1-year high of $271.78. The stock has a market cap of $130.49 billion, a P/E ratio of 69.17, a P/E/G ratio of 1.95 and a beta of 1.14. The stock's 50 day simple moving average is $175.43 and its 200 day simple moving average is $163.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed 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 dividend yield of 0.7%. Corning's payout ratio is currently 51.14%.

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.

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