Icon Wealth Advisors LLC Lowers Stock Position in Corning Incorporated $GLW

Icon Wealth Advisors LLC lessened its stake in shares of Corning Incorporated (NYSE:GLW) by 36.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,487 shares of the electronics maker’s stock after selling 10,165 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Corning were worth $1,531,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Corning during the third quarter worth about $25,000. Berbice Capital Management LLC purchased a new position in Corning during the fourth quarter worth about $26,000. Basepoint Wealth LLC purchased a new position in Corning during the fourth quarter worth about $26,000. Litman Gregory Wealth Management LLC purchased a new position in Corning during the fourth quarter worth about $31,000. Finally, Evolution Wealth Management Inc. boosted its stake in Corning by 58.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $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.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 160,655 shares of company stock valued at $30,692,561. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on GLW. JPMorgan Chase & Co. lifted their target price on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Barclays lifted their target price on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Mizuho lifted their target price on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Finally, Truist Financial lifted their target price on Corning from $125.00 to $149.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Ten investment 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

Corning Stock Performance

NYSE GLW opened at $179.85 on Friday. Corning Incorporated has a 1-year low of $49.47 and a 1-year high of $211.79. The company has a market cap of $154.79 billion, a P/E ratio of 86.05, a P/E/G ratio of 2.56 and a beta of 1.15. 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 stock has a 50-day moving average of $177.15 and a two-hundred day moving average of $133.67.

Corning (NYSE:GLW) last announced 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 return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue for the quarter 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, analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning’s payout ratio 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.