Atria Wealth Solutions Inc. Has $413,000 Position in Corning Incorporated $GLW

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Corning Incorporated by 67.8% in the second quarter, leaving them with a position worth $413,000.
• Corning's stock received positive updates from various analysts, with UBS Group raising its price target from $84.00 to $91.00 and Mizuho increasing theirs from $74.00 to $90.00.
• The company announced a quarterly dividend of $0.28, which will be paid on December 12th, representing an annual yield of 1.3%.

Atria Wealth Solutions Inc. lessened its position in Corning Incorporated (NYSE:GLW - Free Report) by 67.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,853 shares of the electronics maker's stock after selling 16,563 shares during the period. Atria Wealth Solutions Inc.'s holdings in Corning were worth $413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Amundi increased its stake in shares of Corning by 64.3% in the first quarter. Amundi now owns 6,408,605 shares of the electronics maker's stock valued at $271,237,000 after buying an additional 2,507,797 shares during the period. Bank of New York Mellon Corp raised its holdings in Corning by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker's stock worth $290,610,000 after purchasing an additional 80,872 shares during the last quarter. Invesco Ltd. raised its holdings in Corning by 4.8% during the 1st quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker's stock worth $290,111,000 after purchasing an additional 288,328 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Corning by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,844,174 shares of the electronics maker's stock worth $267,546,000 after purchasing an additional 558,184 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Corning by 37.1% during the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker's stock worth $175,603,000 after purchasing an additional 1,037,875 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Wall Street Analysts Forecast Growth

GLW has been the subject of several analyst reports. UBS Group raised their price target on shares of Corning from $84.00 to $91.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Mizuho upped their target price on Corning from $74.00 to $90.00 and gave the company an "outperform" rating in a research report on Friday, October 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of Corning in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Wall Street Zen lowered Corning from a "strong-buy" rating to a "hold" rating in a research report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Insiders Place Their Bets

In other news, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the sale, the executive vice president directly owned 39,759 shares of the company's stock, valued at $2,473,804.98. This represents a 29.51% 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. In the last quarter, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.32% of the stock is currently owned by corporate insiders.

Corning Stock Up 1.0%

Shares of NYSE:GLW opened at $85.31 on Tuesday. The business's 50 day simple moving average is $75.74 and its two-hundred day simple moving average is $59.06. The firm has a market cap of $73.08 billion, a P/E ratio of 90.75, a PEG ratio of 1.89 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $87.78.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter in the prior year, the company earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, research analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

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

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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