Fideuram Intesa Sanpaolo Private Banking S.P.A. Cuts Position in Corning Incorporated $GLW

Fideuram Intesa Sanpaolo Private Banking S.P.A. trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 23.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,576 shares of the electronics maker’s stock after selling 10,403 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Corning were worth $4,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLW. Caldwell Trust Co boosted its stake in shares of Corning by 0.5% during the first quarter. Caldwell Trust Co now owns 15,893 shares of the electronics maker’s stock valued at $2,161,000 after purchasing an additional 74 shares during the period. KRS Capital Management LLC boosted its position in Corning by 2.2% in the 1st quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock valued at $552,000 after buying an additional 88 shares during the period. Sheets Smith Wealth Management grew its stake in Corning by 2.1% in the 1st quarter. Sheets Smith Wealth Management now owns 4,450 shares of the electronics maker’s stock worth $605,000 after acquiring an additional 90 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its stake in Corning by 2.5% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock worth $336,000 after acquiring an additional 92 shares in the last quarter. Finally, 3Chopt Investment Partners LLC increased its position in shares of Corning by 1.0% during the fourth quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after acquiring an additional 97 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This represents a 66.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock worth $30,692,560 over the last quarter. Company insiders own 0.25% of the company’s stock.

Corning Stock Down 0.3%

Corning stock opened at $196.12 on Friday. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $271.78. The business has a fifty day moving average of $190.59 and a two-hundred day moving average of $146.38. The firm has a market cap of $168.79 billion, a P/E ratio of 93.84, a P/E/G ratio of 2.82 and a beta of 1.09. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

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

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors 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 yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is 53.59%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GLW. Truist Financial boosted their price target on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Morgan Stanley set a $180.00 price objective on Corning in a report on Friday, May 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Susquehanna upped their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Finally, Mizuho raised their price target on Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $186.46.

Corning 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.