Wealthstar Advisors LLC Cuts Stock Position in Corning Incorporated $GLW

Wealthstar Advisors LLC cut its position in shares of Corning Incorporated (NYSE:GLW) by 17.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,694 shares of the electronics maker’s stock after selling 3,398 shares during the quarter. Corning makes up about 1.0% of Wealthstar Advisors LLC’s investment portfolio, making the stock its 17th largest position. Wealthstar Advisors LLC’s holdings in Corning were worth $2,134,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Merit Financial Group LLC boosted its holdings in Corning by 16.9% during the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after acquiring an additional 6,493 shares during the period. Security National Bank increased its stake in Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after purchasing an additional 56,056 shares during the period. Natixis Advisors LLC lifted its position in Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock valued at $39,367,000 after purchasing an additional 116,583 shares during the last quarter. Three Seasons Wealth LLC bought a new stake in Corning in the fourth quarter valued at approximately $1,750,000. Finally, RiverFront Investment Group LLC boosted its stake in shares of Corning by 65.4% during the fourth quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker’s stock valued at $1,289,000 after purchasing an additional 5,818 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Price Performance

GLW opened at $196.12 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The stock has a market capitalization of $168.79 billion, a PE ratio of 93.84, a price-to-earnings-growth ratio of 2.82 and a beta of 1.09. The stock’s 50 day moving average price is $190.59 and its 200-day moving average price is $146.38. Corning Incorporated has a 52-week low of $51.32 and a 52-week high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GLW shares. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Citigroup upped their price target on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Morgan Stanley set a $180.00 price target on shares of Corning in a research report on Friday, May 8th. Mizuho raised their price target on shares of Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Bank of America boosted their price objective on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $186.46.

Insider Transactions at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. This trade represents a 43.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by corporate insiders.

Corning Company Profile

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.