Beverly Hills Private Wealth LLC Takes $2.01 Million Position in Corning Incorporated $GLW

Beverly Hills Private Wealth LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,864 shares of the electronics maker’s stock, valued at approximately $2,009,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alliance Wealth Advisors LLC increased its position in shares of Corning by 1.4% during the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock worth $1,033,000 after buying an additional 56 shares during the period. Ares Financial Consulting LLC lifted its holdings in Corning by 15.6% in the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock valued at $113,000 after buying an additional 60 shares during the period. Signature Equity Partners LLC lifted its holdings in Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after buying an additional 62 shares during the period. Beirne Wealth Consulting Services LLC boosted its position in Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after acquiring an additional 64 shares during the last quarter. Finally, Balefire LLC boosted its position in Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after acquiring an additional 65 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.25% of the company’s stock.

Corning Stock Down 0.1%

GLW stock opened at $165.85 on Monday. The firm has a market capitalization of $142.86 billion, a PE ratio of 75.73, a P/E/G ratio of 2.12 and a beta of 1.14. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Corning Incorporated has a twelve month low of $63.37 and a twelve month high of $271.78. The stock’s 50 day moving average is $176.82 and its 200-day moving average is $161.92.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s dividend payout ratio is presently 51.14%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Oppenheimer lowered their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Mizuho cut their target price on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.08.

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.