Corning Incorporated $GLW Shares Bought by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. raised its stake in Corning Incorporated (NYSE:GLW) by 45.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 9,590 shares of the electronics maker’s stock after purchasing an additional 3,010 shares during the period. Sovereign Financial Group Inc.’s holdings in Corning were worth $1,304,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Corning in the 1st quarter worth approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after acquiring an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Corning in the 2nd quarter valued at approximately $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in shares of Corning in the 2nd quarter valued at approximately $266,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Corning Trading Up 7.5%

NYSE:GLW opened at $209.61 on Tuesday. The firm has a market capitalization of $180.40 billion, a P/E ratio of 100.29, a P/E/G ratio of 2.79 and a beta of 1.15. The business has a 50 day simple moving average of $181.42 and a 200 day simple moving average of $138.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a 12-month low of $50.26 and a 12-month high of $212.39.

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

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is 53.59%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Mizuho raised their price objective on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Bank of America boosted their target price on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. JPMorgan Chase & Co. raised their price target on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, UBS Group lifted their price target on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average price target of $182.62.

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.