Corning Incorporated (NYSE:GLW) Shares Acquired by Bard Financial Services Inc.

Bard Financial Services Inc. raised its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 33.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,125 shares of the electronics maker's stock after purchasing an additional 14,000 shares during the quarter. Bard Financial Services Inc.'s holdings in Corning were worth $2,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its stake in shares of Corning by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 66,063 shares of the electronics maker's stock worth $3,139,000 after buying an additional 204 shares during the last quarter. Principal Securities Inc. raised its position in Corning by 3.5% during the fourth quarter. Principal Securities Inc. now owns 6,170 shares of the electronics maker's stock valued at $293,000 after acquiring an additional 211 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted its holdings in Corning by 9.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 2,422 shares of the electronics maker's stock valued at $115,000 after acquiring an additional 214 shares during the period. Bogart Wealth LLC boosted its position in Corning by 18.3% in the 4th quarter. Bogart Wealth LLC now owns 1,419 shares of the electronics maker's stock worth $67,000 after purchasing an additional 219 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Corning by 1.1% during the 4th quarter. Allworth Financial LP now owns 19,581 shares of the electronics maker's stock worth $930,000 after purchasing an additional 220 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Price Performance

NYSE GLW traded up $0.33 during trading hours on Thursday, hitting $50.78. 1,621,663 shares of the company's stock traded hands, compared to its average volume of 5,937,654. The company has a market capitalization of $43.49 billion, a PE ratio of 87.55, a PEG ratio of 1.50 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. Corning Incorporated has a 52-week low of $37.05 and a 52-week high of $55.33. The firm's 50-day moving average is $45.76 and its 200-day moving average is $47.74.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Corning had a return on equity of 15.10% and a net margin of 3.86%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the prior year, the business earned $0.38 earnings per share. The business's revenue was up 12.9% compared to the same quarter last year. Equities analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, May 30th. Corning's payout ratio is currently 215.38%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GLW. JPMorgan Chase & Co. decreased their target price on shares of Corning from $62.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Bank of America upped their price objective on shares of Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Mizuho set a $52.00 target price on shares of Corning in a research note on Tuesday, April 15th. Wall Street Zen lowered Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Oppenheimer lowered their price target on Corning from $58.00 to $55.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Corning has a consensus rating of "Moderate Buy" and a consensus target price of $53.08.

Insiders Place Their Bets

In other news, SVP Michael Alan Bell sold 20,262 shares of Corning stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $44.06, for a total transaction of $892,743.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Stefan Becker sold 17,106 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $49.68, for a total value of $849,826.08. Following the completion of the transaction, the senior vice president now owns 16,117 shares of the company's stock, valued at $800,692.56. The trade was a 51.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,796 shares of company stock valued at $3,632,635 in the last three months. 0.40% of the stock is currently owned by insiders.

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.