PNC Financial Services Group Inc. Has $83.14 Million Stock Holdings in Corning Incorporated $GLW

PNC Financial Services Group Inc. lifted its position in Corning Incorporated (NYSE:GLW) by 1.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 611,485 shares of the electronics maker’s stock after purchasing an additional 7,329 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Corning were worth $83,144,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Berbice Capital Management LLC acquired a new position in Corning in the fourth quarter valued at about $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning during the fourth quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Corning in the fourth quarter valued at approximately $27,000. Litman Gregory Wealth Management LLC bought a new position in shares of Corning in the fourth quarter valued at approximately $31,000. Finally, Evolution Wealth Management Inc. boosted its holdings in shares of Corning by 58.8% in the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 141 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction dated 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 sale, the senior vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Susquehanna boosted their price objective on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Finally, Truist Financial raised their target price on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $194.69.

Corning Stock Performance

Shares of Corning stock opened at $154.01 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $189.96 and a 200 day simple moving average of $154.74. Corning Incorporated has a fifty-two week low of $54.37 and a fifty-two week high of $271.78. The firm has a market cap of $132.55 billion, a P/E ratio of 73.69, a P/E/G ratio of 2.14 and a beta of 1.09.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts predict that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is 53.59%.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s core AI-optics exposure remains a supportive theme for the stock, and one recent market note said the “AI trade” in optical stocks is still durable, which could help investor sentiment ahead of earnings.
• Positive Sentiment: Analysts still expect year-over-year earnings and revenue growth next week, with the Zacks consensus pointing to $4.6 billion in sales and $0.76 per share in Q2, suggesting the business is still growing despite recent weakness.
• Neutral Sentiment: Several previews said Corning may not have the right setup for a major earnings beat, and one analyst expects only modest revenue upside, implying the upcoming report may be more of a confirmation event than a big catalyst.
• Neutral Sentiment: A valuation-focused article flagged Corning as potentially overvalued after its recent share-price swings, which may be causing investors to be more cautious before earnings rather than buying aggressively.
• Negative Sentiment: Recent commentary highlights mixed analyst views and weaker near-term momentum, with the stock down over the past week and month as traders worry that expectations may already be stretched.

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.