Pictet Asset Management Holding SA Boosts Stock Position in Corning Incorporated $GLW

Pictet Asset Management Holding SA increased its stake in Corning Incorporated (NYSE:GLW) by 2.4% in the first quarter, Holdings Channel reports. The institutional investor owned 377,572 shares of the electronics maker’s stock after acquiring an additional 9,023 shares during the period. Pictet Asset Management Holding SA’s holdings in Corning were worth $51,281,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Corning during the 3rd quarter valued at about $25,000. Berbice Capital Management LLC bought a new stake in Corning in the fourth quarter worth about $26,000. Basepoint Wealth LLC purchased a new position in shares of Corning during the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Corning during the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning in the fourth quarter worth approximately $31,000. Institutional investors own 69.80% of the company’s stock.

Insider Activity at Corning

In other Corning news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction on Monday, May 11th. The shares were 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 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 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.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Mizuho boosted their price objective on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Citigroup upped their price target on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Barclays raised their price target on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Truist Financial lifted their price objective on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Finally, UBS Group upped their target price on shares of Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.62.

Corning Stock Performance

Shares of Corning stock opened at $255.79 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average price is $186.49 and its 200-day moving average price is $143.26. The firm has a market cap of $220.14 billion, a P/E ratio of 122.39, a P/E/G ratio of 3.16 and a beta of 1.15. Corning Incorporated has a 12 month low of $51.32 and a 12 month high of $258.80.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share 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 net margin of 11.09% and a return on equity of 19.45%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.4%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

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.