SageView Advisory Group LLC Has $889,000 Stake in Corning Incorporated $GLW

Key Points

• SageView Advisory Group LLC increased its stake in Corning Incorporated by 237.2% in Q1, purchasing 13,653 additional shares, bringing its total holdings to 19,408 shares valued at approximately $889,000.
• Corning recently reported $0.60 EPS for the latest quarter, surpassing analysts' expectations of $0.57, with revenue reaching $3.86 billion.
• The company announced a quarterly dividend of $0.28, with a yield of 1.5%, set to be paid to shareholders on September 29th.

SageView Advisory Group LLC boosted its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 237.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,408 shares of the electronics maker's stock after acquiring an additional 13,653 shares during the quarter. SageView Advisory Group LLC's holdings in Corning were worth $889,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GLW. Gotham Asset Management LLC purchased a new stake in shares of Corning during the 4th quarter worth about $306,000. GAMMA Investing LLC raised its stake in shares of Corning by 29.2% during the 1st quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker's stock worth $520,000 after purchasing an additional 2,567 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Corning by 1.3% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 22,379 shares of the electronics maker's stock worth $1,024,000 after purchasing an additional 297 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Corning by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,300,954 shares of the electronics maker's stock worth $59,558,000 after purchasing an additional 23,781 shares in the last quarter. Finally, Spire Wealth Management raised its stake in shares of Corning by 8.7% during the 1st quarter. Spire Wealth Management now owns 14,456 shares of the electronics maker's stock worth $662,000 after purchasing an additional 1,154 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Oppenheimer reaffirmed an "outperform" rating and set a $72.00 price target (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Morgan Stanley set a $56.00 price target on Corning and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Citigroup raised their price objective on Corning from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Mizuho raised their price objective on Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Wolfe Research initiated coverage on Corning in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Corning currently has a consensus rating of "Moderate Buy" and an average target price of $66.75.

Corning Stock Performance

Shares of NYSE:GLW traded up $1.56 during trading on Friday, hitting $77.03. 14,749,952 shares of the stock were exchanged, compared to its average volume of 7,333,147. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $77.87. The company has a market capitalization of $65.99 billion, a price-to-earnings ratio of 81.95, a price-to-earnings-growth ratio of 1.69 and a beta of 1.09. The company's fifty day simple moving average is $62.75 and its 200-day simple moving average is $52.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter in the previous year, the firm earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.5%. Corning's payout ratio is presently 119.15%.

Insider Activity at Corning

In related news, COO Avery H. Nelson III sold 36,240 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the sale, the chief operating officer owned 64,838 shares in the company, valued at approximately $4,036,813.88. This represents a 35.85% 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 82,103 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the sale, the chief executive officer owned 809,295 shares of the company's stock, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,950 shares of company stock valued at $10,449,192 over the last quarter. 0.40% of the stock is currently owned by corporate insiders.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.