Venturi Wealth Management LLC Has $111,000 Stock Holdings in Corning Incorporated (NYSE:GLW)

Venturi Wealth Management LLC increased its position in Corning Incorporated (NYSE:GLW) by 134.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,335 shares of the electronics maker’s stock after buying an additional 1,341 shares during the period. Venturi Wealth Management LLC’s holdings in Corning were worth $111,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in Corning by 2.5% during the 4th quarter. CIBC Asset Management Inc now owns 138,211 shares of the electronics maker’s stock valued at $6,568,000 after purchasing an additional 3,311 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Corning by 1.6% during the 4th quarter. Sanctuary Advisors LLC now owns 126,602 shares of the electronics maker’s stock valued at $6,329,000 after purchasing an additional 2,038 shares during the last quarter. Rational Advisors LLC boosted its stake in Corning by 42.3% during the 4th quarter. Rational Advisors LLC now owns 5,063 shares of the electronics maker’s stock valued at $241,000 after purchasing an additional 1,506 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Corning during the 4th quarter valued at about $2,922,000. Finally, FengHe Fund Management Pte. Ltd. boosted its stake in Corning by 28.1% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 581,800 shares of the electronics maker’s stock valued at $27,647,000 after purchasing an additional 127,500 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Down 0.8 %

NYSE:GLW opened at $51.46 on Friday. The company has a market cap of $44.08 billion, a P/E ratio of 88.72, a P/E/G ratio of 1.50 and a beta of 1.03. The stock’s fifty day moving average price is $49.92 and its two-hundred day moving average price is $46.65. Corning Incorporated has a 1 year low of $30.72 and a 1 year high of $55.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07.

Corning (NYSE:GLW) last posted its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. As a group, analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.18%. Corning’s dividend payout ratio (DPR) is presently 193.11%.

Insider Buying and Selling

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $49.09, for a total value of $435,722.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael Alan Bell sold 2,209 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,085 shares of company stock worth $2,103,486. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. HSBC upgraded Corning from a “hold” rating to a “buy” rating and lifted their price target for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. StockNews.com upgraded Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Deutsche Bank Aktiengesellschaft lifted their price target on Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group upped their target price on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Hsbc Global Res raised Corning from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Corning Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.