Prospera Financial Services Inc Increases Stock Position in Corning Incorporated $GLW

Key Points

• Prospera Financial Services boosted its Corning stake by 36.2% in the fourth quarter, adding 27,820 shares and bringing its total to 104,585 shares valued at about $9.16 million.
• Corning reported strong quarterly results, with earnings of $0.70 per share and revenue of $4.35 billion, both slightly ahead of analyst expectations and up 18.1% from a year earlier.
• The company also announced a quarterly dividend of $0.28 per share to be paid on June 29, while insiders recently sold shares and analysts currently rate the stock a Moderate Buy with an average price target of $177.92.

Prospera Financial Services Inc increased its position in Corning Incorporated (NYSE:GLW - Free Report) by 36.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,585 shares of the electronics maker's stock after purchasing an additional 27,820 shares during the quarter. Prospera Financial Services Inc's holdings in Corning were worth $9,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Corning by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock valued at $8,693,247,000 after purchasing an additional 580,678 shares during the period. State Street Corp boosted its stake in shares of Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock valued at $3,035,836,000 after purchasing an additional 439,883 shares during the period. Wellington Management Group LLP boosted its stake in shares of Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. Ameriprise Financial Inc. raised its holdings in Corning by 8.1% in the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock valued at $724,432,000 after acquiring an additional 1,036,988 shares in the last quarter. Finally, Capital Research Global Investors acquired a new stake in Corning in the third quarter valued at $907,164,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Down 0.1%

Shares of NYSE:GLW opened at $193.83 on Monday. The stock has a market capitalization of $166.82 billion, a price-to-earnings ratio of 92.74, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14. Corning Incorporated has a 1-year low of $47.67 and a 1-year high of $211.79. The company's fifty day moving average is $161.56 and its two-hundred day moving average is $123.26. 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 (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The company had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm's revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning's dividend payout ratio is 53.59%.

Insider Buying and Selling at Corning

In other Corning news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares of the company's stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 170,774 shares of company stock valued at $28,148,435 over the last three months. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GLW shares. HSBC reaffirmed a "buy" rating and issued a $135.00 price target on shares of Corning in a report on Friday, February 13th. Wolfe Research set a $130.00 price target on shares of Corning and gave the company an "outperform" rating in a report on Tuesday, January 27th. Zacks Research raised shares of Corning from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Barclays upped their price target on shares of Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Finally, UBS Group upped their price target on shares of Corning from $179.00 to $223.00 and gave the company a "buy" rating in a report on Thursday, May 7th. One research 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. Based on data from MarketBeat.com, the company has a consensus 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.

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