HBK Sorce Advisory LLC Has $352,000 Holdings in Corning Incorporated $GLW

HBK Sorce Advisory LLC lifted its holdings in Corning Incorporated (NYSE:GLW) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,690 shares of the electronics maker’s stock after acquiring an additional 660 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Corning were worth $352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. REAP Financial Group LLC boosted its holdings in shares of Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares in the last quarter. Investment Management Corp VA ADV boosted its holdings in shares of Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 353 shares in the last quarter. Resources Management Corp CT ADV boosted its holdings in shares of Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 300 shares in the last quarter. Finally, Gen Wealth Partners Inc boosted its holdings in shares of Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 455 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Performance

Shares of Corning stock opened at $89.07 on Friday. The firm has a fifty day moving average of $79.77 and a two-hundred day moving average of $61.85. The stock has a market capitalization of $76.30 billion, a price-to-earnings ratio of 56.37, a PEG ratio of 1.99 and a beta of 1.14. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $92.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.56.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities research analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning’s payout ratio is presently 70.89%.

Insider Buying and Selling at Corning

In other Corning news, insider Eric S. Musser sold 100,000 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the completion of the sale, the insider owned 44,926 shares in the company, valued at approximately $4,050,977.42. The trade was a 69.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the sale, the senior vice president owned 88,722 shares of the company’s stock, valued at $6,847,563.96. The trade was a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 211,924 shares of company stock worth $16,841,489. 0.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GLW. Barclays boosted their target price on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group boosted their price objective on shares of Corning from $91.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Citigroup boosted their price objective on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley set a $82.00 price objective on shares of Corning in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $90.82.

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.