HighTower Advisors LLC Sells 7,489 Shares of Corning Incorporated $GLW

Key Points

• HighTower Advisors trimmed its Corning stake by 1.6% in Q4, selling 7,489 shares and leaving it with 448,708 shares worth about $39.3 million.
• Corning reported better-than-expected Q1 earnings, with EPS of $0.70 on revenue of $4.35 billion, and it guided Q2 2026 EPS to $0.73-$0.77.
• The company announced a quarterly dividend of $0.28 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $177.92.

HighTower Advisors LLC lessened its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 448,708 shares of the electronics maker's stock after selling 7,489 shares during the period. HighTower Advisors LLC owned approximately 0.05% of Corning worth $39,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning during the 3rd quarter worth approximately $25,000. Strengthening Families & Communities LLC bought a new stake in shares of Corning during the 3rd quarter worth approximately $27,000. Cornerstone Planning Group LLC increased its position in Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock worth $30,000 after purchasing an additional 124 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Corning during the 4th quarter worth approximately $35,000. Finally, JPL Wealth Management LLC acquired a new position in Corning during the 3rd quarter worth approximately $33,000. Institutional investors own 69.80% of the company's stock.

Insider Activity

In other news, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president owned 5,138 shares of the company's stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 170,774 shares of company stock valued at $28,148,435. 0.25% of the stock is owned by corporate insiders.

Corning Trading Up 6.6%

Shares of NYSE GLW opened at $192.54 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a 52-week low of $47.67 and a 52-week high of $211.79. The firm has a 50 day moving average price of $160.32 and a two-hundred day moving average price of $122.51. The stock has a market cap of $165.71 billion, a P/E ratio of 92.12, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (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 firm had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same period in the prior year, the company posted $0.54 EPS. The company's revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning's dividend payout ratio is 53.59%.

Wall Street Analyst Weigh In

GLW has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of Corning from $175.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Wolfe Research set a $130.00 price objective on shares of Corning and gave the stock an "outperform" rating in a research report on Tuesday, January 27th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. Susquehanna upped their price target on shares of Corning from $125.00 to $180.00 and gave the company a "positive" rating in a research report on Wednesday, April 29th. Finally, HSBC restated a "buy" rating and issued a $135.00 price target on shares of Corning in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and a consensus price target of $177.92.

Corning Company Profile

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.