GC Wealth Management RIA LLC trimmed its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 76.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,205 shares of the electronics maker's stock after selling 13,697 shares during the period. GC Wealth Management RIA LLC's holdings in Corning were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Corning in the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new position in Corning in the 3rd quarter valued at about $27,000. Cornerstone Planning Group LLC boosted its position in Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock valued at $30,000 after buying an additional 124 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Corning in the 4th quarter valued at about $35,000. Finally, JPL Wealth Management LLC purchased a new position in Corning in the 3rd quarter valued at about $33,000. 69.80% of the stock is owned by hedge funds and other institutional investors.
Key Corning News
Here are the key news stories impacting Corning this week:
- Positive Sentiment: Q1 results and AI tailwinds: Corning reported stronger-than-expected Q1 core sales with accelerating demand from AI/data‑center optics, which underpins the stock’s large rally and longer-term upside from 5G and fiber expansion. Trefis: Is Corning Stock A Buy At 50 Times Earnings?
- Positive Sentiment: Sector/momentum bullishness: Analysts and screens (Zacks) highlight Corning as a momentum/communication‑components play to tap booming AI, 5G and fiber demand, supporting renewed investor interest. Zacks: Buy 2 Communication Component Stocks
- Neutral Sentiment: Dividend maintained: Board declared a quarterly dividend of $0.28 per share (payable June 29, record May 29). The yield is modest but supports income investors. Yahoo Finance: Corning Announces Quarterly Dividend
- Neutral Sentiment: Market context: MarketBeat and other commentary flag Corning as an AI beneficiary but note a technical pullback after a steep run; some view today’s decline as a potentially buyable dip if AI demand persists. MarketBeat Week in Review
- Negative Sentiment: Analyst caution: Truist trimmed its stance to a Hold, signaling less near‑term conviction and adding pressure after a large multi‑month gain. Globe and Mail: Corning Receives a Hold from Truist
- Negative Sentiment: High‑profile criticism and profit‑taking: Jim Cramer characterized Corning’s move as an “Icarus moment,” and media pieces note the story “getting more complicated,” prompting selling after a roughly 250% one‑year rally. Yahoo: Jim Cramer on Corning TheStreet: Corning stock falls
Corning Price Performance
Shares of NYSE:GLW opened at $158.12 on Friday. The firm's 50 day moving average is $148.66 and its two-hundred day moving average is $112.83. Corning Incorporated has a 52 week low of $44.33 and a 52 week high of $179.08. The firm has a market capitalization of $135.84 billion, a P/E ratio of 75.66, a PEG ratio of 2.34 and a beta of 1.14. The company has a current ratio of 1.61, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62.
Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business earned $0.54 earnings per share. Corning's revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts anticipate that Corning Incorporated will post 3.17 earnings per share for the current year.
Corning Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning's dividend payout ratio (DPR) is presently 60.87%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on GLW shares. Bank of America upped their price objective on shares of Corning from $155.00 to $186.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Zacks Research raised shares of Corning from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. Mizuho set a $145.00 price objective on shares of Corning in a research report on Monday, February 23rd. JPMorgan Chase & Co. cut shares of Corning from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $115.00 to $175.00 in a research report on Thursday, April 16th. Finally, Weiss Ratings raised shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.31.
View Our Latest Analysis on GLW
Insider Buying and Selling
In other Corning news, insider Eric S. Musser sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $130.25, for a total value of $1,953,750.00. Following the sale, the insider owned 4,926 shares in the company, valued at approximately $641,611.50. This trade represents a 75.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Avery H. Nelson III sold 1,583 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $128.74, for a total transaction of $203,795.42. Following the completion of the sale, the chief operating officer owned 59,788 shares in the company, valued at $7,697,107.12. The trade was a 2.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 212,053 shares of company stock valued at $30,403,630 in the last ninety days. Insiders own 0.25% of the company's stock.
Corning Company Profile
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Free Report)
Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.
Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.
See Also
Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW - Free Report).
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