4,126 Shares in Corning Incorporated $GLW Bought by Angeles Wealth Management LLC

Key Points

• Angeles Wealth Management LLC has acquired 4,126 shares of Corning Incorporated (NYSE:GLW), valued at approximately $217,000, marking a new position for the firm in the second quarter.
• Corning recently announced a quarterly dividend of $0.28 per share, with a current dividend yield of 1.3%.
• Shares of Corning opened at $84.49 last Friday, with a market cap of $72.38 billion and a consensus rating of "Moderate Buy" among analysts.

Angeles Wealth Management LLC bought a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,126 shares of the electronics maker's stock, valued at approximately $217,000.

Other large investors have also bought and sold shares of the company. REAP Financial Group LLC raised its position in Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker's stock worth $27,000 after purchasing an additional 339 shares during the last quarter. Investment Management Corp VA ADV raised its position in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after purchasing an additional 353 shares during the last quarter. Resources Management Corp CT ADV raised its position in Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock worth $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc raised its position in Corning by 151.7% during the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock worth $35,000 after purchasing an additional 455 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GLW. Weiss Ratings reiterated a "hold (c+)" rating on shares of Corning in a report on Wednesday, October 8th. Barclays increased their price target on Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. UBS Group increased their price target on Corning from $84.00 to $91.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Oppenheimer reiterated an "outperform" rating and set a $72.00 price target (up from $55.00) on shares of Corning in a report on Wednesday, July 30th. Finally, Wall Street Zen downgraded Corning from a "strong-buy" rating to a "hold" rating in a report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Corning Stock Performance

Shares of GLW opened at $84.49 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The stock has a 50-day moving average of $75.33 and a 200-day moving average of $58.62. The company has a market cap of $72.38 billion, a PE ratio of 89.88, a P/E/G ratio of 1.89 and a beta of 1.14. Corning Incorporated has a one year low of $37.31 and a one year high of $87.78.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period last year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities research analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a $0.28 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning's dividend payout ratio (DPR) is currently 119.15%.

Insider Buying and Selling

In other Corning news, COO Avery H. Nelson III sold 36,240 shares of Corning stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the completion of the transaction, the chief operating officer owned 64,838 shares in the company, valued at approximately $4,036,813.88. The trade was a 35.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of Corning stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares of the company's stock, valued at $52,757,941.05. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 181,671 shares of company stock worth $11,816,899 over the last 90 days. 0.40% of the stock is owned by company insiders.

Corning Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.

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