Pictet Asset Management Holding SA Raises Stake in Corning Incorporated $GLW

Key Points

• Pictet Asset Management increased its stake in Corning by 2.4% in the first quarter, bringing its holdings to 377,572 shares valued at about $51.3 million.
• Corning reported stronger-than-expected quarterly results, with EPS of $0.70 topping estimates and revenue of $4.34 billion, up 18.1% year over year. The company also issued Q2 2026 guidance of $0.73 to $0.77 per share.
• The company announced a quarterly dividend of $0.28 per share, payable Sept. 29, while analysts currently rate the stock a Moderate Buy with a consensus price target of $182.62.

Pictet Asset Management Holding SA raised its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 2.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 377,572 shares of the electronics maker's stock after acquiring an additional 9,023 shares during the period. Pictet Asset Management Holding SA's holdings in Corning were worth $51,281,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GLW. Merit Financial Group LLC increased its holdings in Corning by 16.9% during the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock valued at $3,940,000 after purchasing an additional 6,493 shares during the period. Security National Bank lifted its holdings in Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker's stock worth $6,350,000 after buying an additional 56,056 shares during the period. Natixis Advisors LLC grew its position in shares of Corning by 32.1% in the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker's stock worth $39,367,000 after buying an additional 116,583 shares during the last quarter. Three Seasons Wealth LLC bought a new stake in shares of Corning in the 4th quarter worth approximately $1,750,000. Finally, RiverFront Investment Group LLC increased its stake in shares of Corning by 65.4% during the fourth quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker's stock valued at $1,289,000 after buying an additional 5,818 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Stock Up 15.7%

Shares of Corning stock opened at $255.79 on Tuesday. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $258.80. The firm has a market cap of $220.14 billion, a price-to-earnings ratio of 122.39, a PEG ratio of 3.16 and a beta of 1.15. The company has a 50-day moving average of $186.49 and a 200 day moving average of $143.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.4%. Corning's payout ratio is currently 53.59%.

Insider Buying and Selling at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. Citigroup upped their price objective on shares of Corning from $175.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Barclays raised their target price on shares of Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Finally, Susquehanna lifted their target price 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. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.62.

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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