Corning Incorporated $GLW Holdings Raised by SMART Wealth LLC

SMART Wealth LLC increased its stake in Corning Incorporated (NYSE:GLW) by 89.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,090 shares of the electronics maker’s stock after purchasing an additional 6,638 shares during the quarter. SMART Wealth LLC’s holdings in Corning were worth $1,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Berbice Capital Management LLC acquired a new position in shares of Corning during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the fourth quarter worth approximately $26,000. MBM Wealth Consultants LLC bought a new position in Corning during the 1st quarter valued at $42,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Corning during the 3rd quarter valued at $25,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Corning during the 4th quarter valued at $27,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Down 0.2%

GLW stock opened at $255.29 on Wednesday. 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 market capitalization of $219.71 billion, a P/E ratio of 122.15, a P/E/G ratio of 3.66 and a beta of 1.15. Corning Incorporated has a 52-week low of $51.32 and a 52-week high of $271.78. The company’s 50 day simple moving average is $188.32 and its 200-day simple moving average is $144.39.

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

Corning Announces Dividend

The firm 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 0.4%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their target price on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Citigroup boosted their price target on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Barclays upped their price target on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

Insiders Place Their Bets

In related news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the firm’s 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 sale, the senior vice president owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 over the last quarter. 0.25% of the stock is owned by 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.