GC Wealth Management RIA LLC Acquires New Shares in Corning Incorporated $GLW

Key Points

• GC Wealth Management RIA LLC acquired 12,190 shares of Corning Incorporated, valued at approximately $641,000, during the second quarter.
• Brokerages have issued various ratings for Corning, with price targets ranging from $68.00 to $91.00, indicating a generally positive outlook on the stock.
• Corning reported earnings of $0.60 per share, exceeding expectations, alongside a revenue of $3.86 billion for the recent quarter.

GC Wealth Management RIA LLC acquired a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 12,190 shares of the electronics maker's stock, valued at approximately $641,000.

A number of other hedge funds have also bought and sold shares of GLW. Investment Management Corp VA ADV boosted its holdings in 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 boosted its holdings 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 valued at $34,000 after purchasing an additional 353 shares during the period. Banque Transatlantique SA bought a new position in Corning in the 1st quarter valued at $34,000. Resources Management Corp CT ADV boosted its holdings in 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. Finally, Gen Wealth Partners Inc boosted 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 valued at $35,000 after purchasing an additional 455 shares during the period. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on GLW. Susquehanna reissued a "positive" rating and issued a $75.00 price target (up from $60.00) on shares of Corning in a report on Wednesday, July 30th. Argus reaffirmed a "buy" rating and set a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. UBS Group lifted their price objective on shares of Corning from $84.00 to $91.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Wall Street Zen downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Saturday, September 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.08.

Corning Stock Performance

GLW opened at $82.13 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The firm has a fifty day moving average price of $69.09 and a 200 day moving average price of $55.23. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $82.21. The stock has a market cap of $70.35 billion, a P/E ratio of 87.37, a P/E/G ratio of 1.79 and a beta of 1.09.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.84 billion. During the same period in the previous year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Insider Transactions at Corning

In related news, EVP Lewis A. Steverson sold 16,646 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the transaction, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. The trade was a 29.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the completion of the transaction, the chief operating officer owned 64,838 shares of the company's stock, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,671 shares of company stock worth $11,816,899. Insiders own 0.32% of the company's stock.

Corning 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.

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