Wealth Enhancement Advisory Services LLC Decreases Stake in Corning Incorporated $GLW

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Corning by 3.5% in Q4, selling 46,468 shares and ending the period with 1,286,320 shares valued at about $114.7 million.
• Several Wall Street firms boosted price targets (e.g., Citigroup to $170, UBS to $160, BofA to $144), leaving the stock with a consensus rating of “Moderate Buy” and a consensus price target of $131.75.
• Insider activity shows notable selling: insiders disposed of 233,201 shares worth roughly $32.6 million over the past 90 days, including sales by Eric Musser and CFO Edward Schlesinger, with insiders now owning about 0.40% of the stock.

Wealth Enhancement Advisory Services LLC decreased its position in Corning Incorporated (NYSE:GLW - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,286,320 shares of the electronics maker's stock after selling 46,468 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.15% of Corning worth $114,743,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLW. NorthCrest Asset Manangement LLC grew its stake in Corning by 2.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 44,106 shares of the electronics maker's stock worth $3,912,000 after buying an additional 1,170 shares during the last quarter. Legacy Private Trust Co. raised its holdings in shares of Corning by 89.0% in the fourth quarter. Legacy Private Trust Co. now owns 11,997 shares of the electronics maker's stock valued at $1,050,000 after buying an additional 5,650 shares during the last quarter. Wedmont Private Capital raised its stake in Corning by 2.2% during the 4th quarter. Wedmont Private Capital now owns 7,506 shares of the electronics maker's stock valued at $660,000 after acquiring an additional 163 shares during the last quarter. Lincoln Capital LLC purchased a new stake in shares of Corning during the fourth quarter worth approximately $912,000. Finally, Nordea Investment Management AB lifted its stake in shares of Corning by 201.9% in the 4th quarter. Nordea Investment Management AB now owns 235,899 shares of the electronics maker's stock worth $20,879,000 after acquiring an additional 157,761 shares during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on Corning from $103.00 to $127.00 and gave the stock an "equal weight" rating in a report on Monday, February 23rd. Citigroup upped their target price on Corning from $120.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. UBS Group boosted their price objective on shares of Corning from $125.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Bank of America increased their price objective on shares of Corning from $120.00 to $144.00 and gave the stock a "buy" rating in a report on Thursday, March 12th. Finally, HSBC reiterated a "buy" rating and issued a $135.00 target price on shares of Corning in a report on Friday, February 13th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.75.

Insider Buying and Selling at Corning

In related news, insider Eric S. Musser sold 25,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 19,926 shares in the company, valued at $2,191,860. This trade represents a 55.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Edward A. Schlesinger sold 21,104 shares of Corning stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $104.55, for a total value of $2,206,423.20. Following the sale, the chief financial officer directly owned 54,780 shares in the company, valued at $5,727,249. The trade was a 27.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 233,201 shares of company stock valued at $32,614,558. 0.40% of the stock is currently owned by insiders.

Corning Trading Down 6.3%

Shares of NYSE GLW opened at $124.72 on Friday. The stock's 50 day moving average price is $122.00 and its two-hundred day moving average price is $97.46. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $162.10. The stock has a market capitalization of $107.00 billion, a P/E ratio of 67.78, a PEG ratio of 1.97 and a beta of 1.05. 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 (NYSE:GLW - Get Free Report) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating 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 firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The firm's revenue for the quarter 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, analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning's dividend payout ratio is currently 60.87%.

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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