NewEdge Advisors LLC Sells 14,991 Shares of Corning Incorporated $GLW

NewEdge Advisors LLC lowered its position in Corning Incorporated (NYSE:GLW) by 12.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,894 shares of the electronics maker’s stock after selling 14,991 shares during the period. NewEdge Advisors LLC’s holdings in Corning were worth $14,942,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Berbice Capital Management LLC bought a new stake in shares of Corning during the 4th quarter valued at about $26,000. Basepoint Wealth LLC bought a new position in shares of Corning in the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of Corning in the fourth quarter worth approximately $27,000. Litman Gregory Wealth Management LLC bought a new stake in Corning during the fourth quarter valued at approximately $31,000. Finally, Evolution Wealth Management Inc. grew its position in Corning by 58.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GLW. Susquehanna increased their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. Mizuho decreased their target price on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Oppenheimer lowered their target price on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, Morgan Stanley cut their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Insider Buying and Selling

In other news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock worth $30,692,560 in the last quarter. 0.25% of the stock is owned by insiders.

Corning Stock Up 5.4%

GLW opened at $165.65 on Friday. The stock has a market cap of $142.69 billion, a price-to-earnings ratio of 75.64, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The firm’s fifty day moving average is $179.73 and its 200 day moving average is $159.07. Corning Incorporated has a fifty-two week low of $63.37 and a fifty-two week high of $271.78.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the business posted $0.60 EPS. Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 51.14%.

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.