Corning Incorporated $GLW Stock: Banque Pictet & Cie SA Boosts Holdings

Key Points

• Banque Pictet & Cie SA increased its Corning stake by 33.3% in the third quarter, bringing its holdings to 40,000 shares valued at approximately $6.15 million. Institutional investors collectively own 69.8% of Corning.
• Corning reported quarterly revenue of $4.74 billion and adjusted EPS of $0.78, exceeding analyst estimates, while revenue rose 17.1% year over year. The company provided third-quarter 2026 EPS guidance of $0.85–$0.89.
• Shares opened at $131.93, down 4.7%, while analysts maintained a consensus “Moderate Buy” rating with a $177.56 price target. Corning also declared a quarterly dividend of $0.28 per share, yielding about 0.8% annually.

Banque Pictet & Cie SA boosted its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 33.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,000 shares of the electronics maker's stock after acquiring an additional 10,000 shares during the quarter. Banque Pictet & Cie SA's holdings in Corning were worth $6,150,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Corning by 13.4% during the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker's stock valued at $10,500,315,000 after acquiring an additional 4,845,027 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Corning by 29.2% during the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker's stock worth $4,784,361,000 after purchasing an additional 4,231,507 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Corning by 50.9% during the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker's stock worth $3,365,084,000 after purchasing an additional 4,446,514 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Corning in the second quarter worth $1,510,911,000. Finally, Legal & General Group Plc bought a new stake in shares of Corning in the second quarter worth $1,212,283,000. 69.80% of the stock is owned by institutional investors.

Insider Transactions at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Corning Stock Down 4.7%

Corning stock opened at $131.93 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a 52-week low of $77.39 and a 52-week high of $271.78. The firm has a 50 day moving average price of $154.18 and a two-hundred day moving average price of $168.66. The firm has a market cap of $113.64 billion, a price-to-earnings ratio of 60.24, a PEG ratio of 1.68 and a beta of 1.13.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The company's revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts predict that Corning Incorporated will post 3.28 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Corning's dividend payout ratio (DPR) is currently 51.14%.

Wall Street Analysts Forecast Growth

GLW has been the subject of a number of recent research reports. Truist Financial increased their price objective on Corning from $175.00 to $182.00 and gave the company a "buy" rating in a report on Friday, October 2nd. Weiss Ratings downgraded Corning from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, August 21st. The Goldman Sachs Group reaffirmed an "outperform" rating on shares of Corning in a report on Tuesday, September 15th. Sanford C. Bernstein assumed coverage on Corning in a research report on Wednesday, September 30th. They issued a "market perform" rating and a $140.00 price target on the stock. Finally, Barclays decreased their price target on Corning from $180.00 to $129.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corning has a consensus rating of "Moderate Buy" and a consensus price target of $177.56.

About Corning

Corning Incorporated NYSE: GLW is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company's products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.

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