Sax Wealth Advisors LLC Acquires Shares of 13,808 Corning Incorporated $GLW

Key Points

• Sax Wealth Advisors LLC acquired a new stake in Corning Incorporated, purchasing 13,808 shares valued at approximately $632,000.
• Corning's stock has received multiple upgrades from analysts, with Argus reaffirming a "buy" rating and a target price of $68.00.
• The company announced a quarterly dividend of $0.28 per share, which reflects an annualized dividend yield of 1.7%.

Sax Wealth Advisors LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,808 shares of the electronics maker's stock, valued at approximately $632,000.

A number of other institutional investors also recently made changes to their positions in GLW. Vermillion Wealth Management Inc. bought a new position in shares of Corning during the fourth quarter worth approximately $29,000. Putney Financial Group LLC bought a new position in Corning during the 4th quarter worth $30,000. Investment Management Corp VA ADV increased its position in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after buying an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after buying an additional 353 shares during the period. Finally, Gen Wealth Partners Inc increased its position in Corning by 151.7% during the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock worth $35,000 after buying an additional 455 shares during the period. Institutional investors own 69.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GLW shares. Oppenheimer reiterated an "outperform" rating and set a $72.00 price objective (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. 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 lifted their price target on Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, UBS Group lifted their price target on Corning from $57.00 to $65.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Corning presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.17.

Corning Stock Up 1.1%

Shares of NYSE GLW traded up $0.72 during midday trading on Tuesday, hitting $67.50. 5,419,065 shares of the stock traded hands, compared to its average volume of 5,902,013. The business has a 50 day moving average price of $57.82 and a two-hundred day moving average price of $50.78. Corning Incorporated has a one year low of $37.31 and a one year high of $67.68. The company has a market cap of $57.83 billion, a PE ratio of 71.81, a P/E/G ratio of 1.50 and a beta of 1.08. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, August 29th. This represents a $1.12 annualized dividend and a yield of 1.7%. Corning's dividend payout ratio is 119.15%.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the sale, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael Paul O'day sold 14,879 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the sale, the senior vice president owned 35,743 shares of the company's stock, valued at $2,228,933.48. This trade represents a 29.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 211,484 shares of company stock valued at $12,813,804 in the last three months. Insiders own 0.32% of the company's stock.

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.