Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $7.24 Million Stake in Corning Incorporated $GLW

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Corning Incorporated (NYSE:GLW) by 2.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 137,684 shares of the electronics maker’s stock after buying an additional 3,059 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Corning were worth $7,241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Investment Management Corp VA ADV grew its holdings in shares of Corning by 165.9% during the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 353 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Corning during the first quarter worth about $34,000. Resources Management Corp CT ADV grew its holdings in shares of Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc grew its holdings in shares of Corning by 151.7% during the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 455 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Citigroup upped their target price on Corning from $72.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Barclays upped their target price on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. UBS Group upped their target price on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, Morgan Stanley set a $56.00 target price on Corning and gave the company an “equal weight” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.08.

Insider Buying and Selling

In related news, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the sale, the senior vice president directly owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction on 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 directly owned 809,295 shares of the company’s stock, valued at $52,757,941.05. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock worth $11,816,899 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

Corning Price Performance

Shares of GLW opened at $82.56 on Friday. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $84.35. The business’s fifty day moving average is $70.18 and its 200 day moving average is $55.66. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The stock has a market cap of $70.72 billion, a P/E ratio of 87.83, a P/E/G ratio of 1.85 and a beta of 1.14.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

About Corning

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.