OneDigital Investment Advisors LLC Invests $6.68 Million in Corning Incorporated $GLW

Key Points

• OneDigital Investment Advisors acquired 26,166 Corning shares worth approximately $6.68 million in the second quarter. Institutional investors collectively own 69.80% of GLW stock.
• Analyst sentiment remains positive overall, with 11 Buy ratings and five Holds, producing a “Moderate Buy” consensus and an average price target of $174.08, despite mixed target revisions.
• Corning beat quarterly expectations with $0.78 EPS and $4.74 billion in revenue, up 17.1% year over year. The company also declared a quarterly dividend of $0.28 per share, representing a 0.7% annualized yield.

OneDigital Investment Advisors LLC bought a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,166 shares of the electronics maker's stock, valued at approximately $6,684,000.

Several other institutional investors also recently bought and sold shares of GLW. Atwood & Palmer Inc. purchased a new stake in Corning in the 2nd quarter worth $26,000. First Community Trust NA purchased a new position in shares of Corning during the second quarter valued at about $72,000. N.E.W. Advisory Services LLC bought a new stake in shares of Corning in the second quarter worth about $76,000. Berbice Capital Management LLC purchased a new stake in shares of Corning in the fourth quarter worth about $26,000. Finally, Basepoint Wealth LLC purchased a new stake in shares of Corning in the fourth quarter worth about $26,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on GLW. Barclays cut their price target on Corning from $180.00 to $129.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. Wall Street Zen downgraded Corning from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Weiss Ratings raised shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 7th. Citigroup reduced their price target on shares of Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research report on Wednesday, July 29th. Finally, 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 note on Wednesday, April 29th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $174.08.

Insider Buying and Selling at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares of the company's stock, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by insiders.

Corning Trading Down 0.1%

Shares of NYSE GLW opened at $165.85 on Monday. The business's 50 day moving average is $176.82 and its two-hundred day moving average is $161.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a 1-year low of $63.37 and a 1-year high of $271.78. The stock has a market capitalization of $142.86 billion, a P/E ratio of 75.73, a PEG ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, research analysts expect that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning's dividend payout ratio (DPR) is currently 51.14%.

About Corning

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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