Integrated Wealth Concepts LLC Raises Stock Position in Corning Incorporated $GLW

Key Points

• Integrated Wealth Concepts LLC increased its holdings in Corning Incorporated by 10.4% to 56,865 shares, valued at approximately $2.6 million.
• Recent analyst ratings for Corning show a consensus of "Moderate Buy" with a price target averaging $66.75, indicating positive sentiment among investment analysts.
• Corning declared a quarterly dividend of $0.28 per share, payable on September 29th, with a current dividend yield of 1.6%.

Integrated Wealth Concepts LLC increased its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,865 shares of the electronics maker's stock after purchasing an additional 5,362 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Corning were worth $2,603,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vermillion Wealth Management Inc. purchased a new position in Corning in the fourth quarter valued at about $29,000. Putney Financial Group LLC purchased a new position in Corning in the 4th quarter worth $30,000. Investment Management Corp VA ADV raised its position in Corning by 165.9% in 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 period. Annis Gardner Whiting Capital Advisors LLC raised its position in Corning by 90.1% in 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 period. Finally, Gen Wealth Partners Inc grew its holdings in Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock worth $35,000 after acquiring an additional 455 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Susquehanna reiterated a "positive" rating and issued a $75.00 target price (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of Corning from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Oppenheimer reiterated an "outperform" rating and set a $72.00 target price (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Argus reiterated a "buy" rating and set a $68.00 target price on shares of Corning 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 two have issued a Hold rating to the stock. According to MarketBeat.com, Corning presently has an average rating of "Moderate Buy" and an average target price of $66.75.

Insiders Place Their Bets

In related news, CEO Wendell P. Weeks sold 82,103 shares of the 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 completion of the transaction, the chief executive officer owned 809,295 shares of the company's stock, valued at approximately $52,757,941.05. This trade represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward A. Schlesinger sold 14,082 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.28, for a total transaction of $877,026.96. Following the completion of the transaction, the chief financial officer directly owned 78,316 shares of the company's stock, valued at approximately $4,877,520.48. The trade was a 15.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,950 shares of company stock worth $10,449,192. Insiders own 0.40% of the company's stock.

Corning Price Performance

Shares of NYSE GLW traded up $1.56 during midday trading on Friday, reaching $77.03. The stock had a trading volume of 14,738,248 shares, compared to its average volume of 5,948,549. The company has a market capitalization of $65.99 billion, a price-to-earnings ratio of 81.95, a price-to-earnings-growth ratio of 1.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The stock has a 50-day moving average of $62.28 and a 200-day moving average of $52.29. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $77.87.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping 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 net margin of 5.77% and a return on equity of 17.27%. During the same quarter in the prior year, the firm posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. Corning's dividend payout ratio (DPR) is presently 119.15%.

Corning Company 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.