Apollon Wealth Management LLC Has $9.51 Million Position in Corning Incorporated $GLW

Key Points

• Apollon Wealth Management LLC has increased its position in Corning Incorporated (NYSE: GLW) by 8.6%, now holding 180,841 shares worth approximately $9.51 million.
• Several hedge funds have heavily invested in Corning recently, increasing their stakes significantly, indicating strong institutional interest with 69.80% of the stock owned by such investors.
• Research analysts have a consensus price target of $73.00 for Corning, reflecting optimism about the company's future performance with multiple upgrades in price objectives from major firms.

Apollon Wealth Management LLC boosted its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,841 shares of the electronics maker's stock after buying an additional 14,300 shares during the quarter. Apollon Wealth Management LLC's holdings in Corning were worth $9,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. REAP Financial Group LLC lifted its stake in shares of Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker's stock valued at $27,000 after purchasing an additional 339 shares during the period. Investment Management Corp VA ADV lifted its stake in shares of Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 353 shares during the period. Banque Transatlantique SA acquired a new position in shares of Corning in the 1st quarter valued at about $34,000. Finally, Resources Management Corp CT ADV lifted its stake in shares of Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 300 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Morgan Stanley boosted their price objective on Corning from $56.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday. Wolfe Research assumed coverage on Corning in a research note on Tuesday, July 8th. They set an "outperform" rating on the stock. Argus reaffirmed a "buy" rating and set a $68.00 price target on shares of Corning in a research note on Wednesday, July 30th. Finally, Barclays upped their price target on Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Corning has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Corning Stock Performance

Shares of Corning stock opened at $83.00 on Friday. The company has a market cap of $71.10 billion, a PE ratio of 88.30, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $87.78. The business has a 50 day moving average price of $73.19 and a 200-day moving average price of $57.18. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm 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 in the prior year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning's dividend payout ratio is 119.15%.

Insider Transactions at Corning

In other news, SVP Michael Paul O'day sold 14,879 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the completion of the sale, the senior vice president directly owned 35,743 shares of the company's stock, valued at $2,228,933.48. This represents a 29.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the sale, the senior vice president directly owned 88,722 shares of the company's stock, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,671 shares of company stock valued at $11,816,899. Corporate insiders own 0.40% of the company's stock.

About Corning

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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