Riggs Asset Managment Co. Inc. Sells 35,798 Shares of Corning Incorporated $GLW

Key Points

• Riggs Asset Management trimmed its Corning stake by 30.5%, selling 35,798 shares in Q4 and now holds 81,723 shares worth $7.156 million (about 1.4% of its portfolio).
• Institutional backing remains strong: Vanguard owns 98.7 million shares and institutions hold roughly 69.8% of GLW, while multiple analysts have raised price targets and the consensus is a "Moderate Buy" with an average target of $140.08.
• Fundamentals vs. valuation: Corning beat Q4 EPS and revenue and set Q1 guidance of $0.66–$0.70, but the stock's P/E is elevated (~92) after a near 292% one‑year rally and insiders have been net sellers recently.

Riggs Asset Managment Co. Inc. lessened its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 30.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,723 shares of the electronics maker's stock after selling 35,798 shares during the quarter. Corning comprises about 1.4% of Riggs Asset Managment Co. Inc.'s investment portfolio, making the stock its 23rd biggest holding. Riggs Asset Managment Co. Inc.'s holdings in Corning were worth $7,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Corning by 0.8% in the third quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker's stock worth $8,096,577,000 after purchasing an additional 750,530 shares during the last quarter. State Street Corp raised its stake in Corning by 1.2% during the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock valued at $3,035,836,000 after buying an additional 439,883 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock worth $1,358,211,000 after buying an additional 3,848,540 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock worth $724,432,000 after buying an additional 1,036,988 shares during the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of Corning in the third quarter worth $907,164,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley increased their target price on Corning from $127.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday. Mizuho set a $145.00 price target on shares of Corning in a research report on Monday, February 23rd. Bank of America increased their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday. Oppenheimer set a $120.00 price objective on shares of Corning in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. cut shares of Corning from an "overweight" rating to a "neutral" rating and upped their target price for the company from $115.00 to $175.00 in a report on Thursday, April 16th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $140.08.

Corning Stock Up 0.5%

NYSE GLW opened at $169.53 on Friday. The stock's 50-day moving average price is $145.59 and its 200-day moving average price is $110.15. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 52 week low of $42.00 and a 52 week high of $176.75. The company has a market capitalization of $145.63 billion, a P/E ratio of 92.13, a price-to-earnings-growth ratio of 2.42 and a beta of 1.06.

Corning (NYSE:GLW - Get Free Report) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same period in the prior year, the firm posted $0.57 EPS. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, equities research analysts predict that Corning Incorporated will post 3.15 earnings per share for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, February 27th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, February 27th. Corning's dividend payout ratio (DPR) is presently 60.87%.

Insider Activity at Corning

In other news, SVP Li Fang sold 9,797 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total value of $1,112,057.47. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric S. Musser sold 25,000 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $110.00, for a total value of $2,750,000.00. Following the sale, the insider owned 19,926 shares of the company's stock, valued at $2,191,860. This represents a 55.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 233,201 shares of company stock worth $32,614,558 in the last 90 days. Company insiders own 0.25% of the company's stock.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Morgan Stanley raised its price target on Corning to $140 (from $127) and cited continuing strength in optical stocks — a vote of confidence for the fiber/optics story that supports demand assumptions for Corning’s connectivity businesses. Note: the firm kept an Equal Weight rating. Morgan Stanley Lifts Corning (GLW) PT to $140 as Optical Stocks Hit New Highs
• Positive Sentiment: Zacks and other analyst write-ups highlight Corning among names likely to beat Q1 estimates, driven by AI/cloud/data‑center demand for fiber, optical components and related glass products — supportive near‑term earnings expectations. The Zacks Analyst Blog Sandisk, Monolithic Power Systems, Garmin and Corning
• Positive Sentiment: Sector pieces name GLW as a communication/connection play likely to benefit from fiber densification, 5G rollouts and cloud buildouts — reinforcing longer‑cycle demand visibility for Corning’s comms-related segments. 3 Communication Stocks Likely Benefit Despite Geopolitical Unrest
• Positive Sentiment: Zacks included Corning on a list of dividend growers to consider amid geopolitical uncertainty — underscores income-investor appeal alongside growth from optical/data-center exposure. 5 Dividend Growth Stocks to Buy Amid Extended US Ceasefire With Iran
• Neutral Sentiment: Preview pieces and countdowns to Corning’s Q1 report are circulating, highlighting key metrics beyond EPS/revenue that investors will watch (segment trends, fiber demand, optical pricing). These are informational ahead of results. Countdown to Corning (GLW) Q1 Earnings: A Look at Estimates Beyond Revenue and EPS
• Neutral Sentiment: Market commentary (including a piece on Jim Cramer and JPMorgan’s coverage) is drawing attention to differing media/analyst views — useful for sentiment but not a direct fundamental driver. Jim Cramer’s Hurt By JPMorgan’s Coverage of Corning (GLW) Stock
• Negative Sentiment: A Yahoo Finance piece asks whether it’s too late to buy after Corning’s huge run (nearly 292% over 1 year and very strong YTD performance), highlighting valuation/stretch risk and the possibility of profit‑taking if Q1 guidance or forward commentary disappoints. Is It Too Late To Consider Corning (GLW) After Its Huge 1-Year Share Price Surge?

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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