Appleton Partners Inc. MA Grows Stock Holdings in Corning Incorporated $GLW

Appleton Partners Inc. MA increased its stake in shares of Corning Incorporated (NYSE:GLW) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,909 shares of the electronics maker’s stock after purchasing an additional 1,840 shares during the period. Appleton Partners Inc. MA’s holdings in Corning were worth $2,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GLW. Investment Management Corp VA ADV increased its position in shares of Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 353 shares during the last quarter. Banque Transatlantique SA purchased a new stake in shares of Corning during the 1st quarter valued at about $34,000. Resources Management Corp CT ADV increased its position in shares of Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc increased its position in shares of Corning by 151.7% during the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 455 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Susquehanna restated a “positive” rating and set a $75.00 target price (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research report on Saturday, September 27th. Morgan Stanley set a $56.00 price objective on shares of Corning and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Finally, Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $71.42.

Insider Activity

In other news, SVP Michael Paul O’day sold 14,879 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the transaction, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. This represents a 29.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total value of $2,256,302.40. Following the transaction, the chief operating officer owned 64,838 shares of the company’s stock, valued at $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,671 shares of company stock worth $11,816,899. 0.32% of the stock is owned by corporate insiders.

Corning Trading Up 1.3%

Shares of GLW opened at $83.60 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $84.35. The company has a 50 day simple moving average of $70.74 and a two-hundred day simple moving average of $56.02. The firm has a market cap of $71.62 billion, a P/E ratio of 88.94, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the firm posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

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.