NewEdge Wealth LLC Cuts Position in Corning Incorporated $GLW

NewEdge Wealth LLC decreased its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 40.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,626 shares of the electronics maker's stock after selling 41,986 shares during the period. NewEdge Wealth LLC's holdings in Corning were worth $8,379,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GLW. Merit Financial Group LLC lifted its position in shares of Corning by 16.9% in the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock worth $3,940,000 after buying an additional 6,493 shares during the last quarter. Security National Bank grew its position in shares of Corning by 340.4% during the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker's stock valued at $6,350,000 after buying an additional 56,056 shares during the last quarter. Wealthfront Advisers LLC raised its stake in Corning by 36.2% during the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker's stock worth $12,567,000 after acquiring an additional 24,589 shares during the period. Principal Financial Group Inc. lifted its holdings in Corning by 1.2% in the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker's stock worth $121,483,000 after acquiring an additional 10,591 shares during the last quarter. Finally, Three Seasons Wealth LLC bought a new position in Corning in the fourth quarter worth about $1,750,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup upped their target price on Corning from $225.00 to $240.00 and gave the company a "buy" rating in a report on Monday, July 13th. Zacks Research downgraded Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Weiss Ratings restated a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. JPMorgan Chase & Co. upped their price objective on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, Barclays increased their target price on Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Corning presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.69.

Insider Activity at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the transaction, the senior vice president owned 94,400 shares of the company's stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Corning Price Performance

NYSE GLW opened at $155.91 on Friday. The company has a 50-day moving average price of $188.92 and a two-hundred day moving average price of $155.20. Corning Incorporated has a 52 week low of $54.89 and a 52 week high of $271.78. The stock has a market cap of $134.18 billion, a price-to-earnings ratio of 74.60, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The business's revenue for the quarter 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 forecast that Corning Incorporated will post 3.18 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning's payout ratio is 53.59%.

Corning 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.

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