Alliancebernstein L.P. Increases Stock Position in Corning Incorporated $GLW

Key Points

• AllianceBernstein L.P. increased its stake in Corning by 41.8% in the third quarter to 1,838,270 shares—about 0.21% of the company, valued at roughly $150.8 million.
• Analysts are broadly positive: Corning holds a consensus rating of "Moderate Buy" with an average price target of $131.75 (11 Buys vs. 4 Holds), and UBS recently raised its target to $160.
• Insiders have been net sellers, offloading 233,201 shares worth about $32.6 million in the last 90 days, even as Corning reported a slight EPS beat and 13.9% revenue growth for the quarter.

Alliancebernstein L.P. raised its position in Corning Incorporated (NYSE:GLW - Free Report) by 41.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,838,270 shares of the electronics maker's stock after acquiring an additional 541,451 shares during the quarter. Alliancebernstein L.P. owned approximately 0.21% of Corning worth $150,793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CVA Family Office LLC increased its stake in shares of Corning by 10.3% during the third quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker's stock valued at $98,000 after buying an additional 111 shares during the period. Angeles Wealth Management LLC lifted its stake in Corning by 2.8% in the third quarter. Angeles Wealth Management LLC now owns 4,242 shares of the electronics maker's stock worth $348,000 after acquiring an additional 116 shares during the period. Vista Investment Partners LLC boosted its holdings in Corning by 1.3% in the third quarter. Vista Investment Partners LLC now owns 9,496 shares of the electronics maker's stock valued at $779,000 after acquiring an additional 119 shares in the last quarter. Sapient Capital LLC boosted its holdings in Corning by 2.2% in the third quarter. Sapient Capital LLC now owns 5,626 shares of the electronics maker's stock valued at $452,000 after acquiring an additional 120 shares in the last quarter. Finally, Sivia Capital Partners LLC increased its position in Corning by 1.6% during the 3rd quarter. Sivia Capital Partners LLC now owns 7,740 shares of the electronics maker's stock valued at $635,000 after purchasing an additional 124 shares during the period. 69.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GLW has been the subject of several research reports. UBS Group upped their price objective on shares of Corning from $125.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Oppenheimer set a $120.00 price target on shares of Corning in a research report on Thursday, January 29th. Barclays set a $100.00 price target on shares of Corning in a research note on Thursday, January 29th. Morgan Stanley raised their price objective 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. Finally, Weiss Ratings upgraded Corning from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 17th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $131.75.

Insider Buying and Selling at Corning

In related news, VP John Z. Zhang sold 1,531 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $133.75, for a total transaction of $204,771.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lewis A. Steverson sold 15,366 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the completion of the transaction, the executive vice president owned 3,461 shares of the company's stock, valued at approximately $450,691.42. The trade was a 81.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 233,201 shares of company stock worth $32,614,558 in the last 90 days. Insiders own 0.32% of the company's stock.

Corning Stock Up 2.3%

GLW stock opened at $132.14 on Tuesday. The business has a 50 day moving average of $118.61 and a 200 day moving average of $95.93. The firm has a market cap of $113.37 billion, a PE ratio of 71.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.04. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $162.10. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the previous year, the company posted $0.57 earnings per share. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, research analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

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

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.

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