Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 29,676 Shares of Corning Incorporated $GLW

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its holdings in Corning Incorporated (NYSE:GLW) by 22.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,000 shares of the electronics maker’s stock after selling 29,676 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Corning were worth $14,141,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GLW. Berbice Capital Management LLC bought a new stake in Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new position in Corning in the fourth quarter valued at approximately $26,000. MBM Wealth Consultants LLC bought a new position in Corning in the first quarter valued at approximately $42,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning in the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in shares of Corning in the fourth quarter valued at approximately $31,000. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In related news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the sale, the senior vice president owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock worth $30,692,560 over the last three months. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Mizuho increased their target price on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Bank of America lifted their price target on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Oppenheimer upped their price objective on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Truist Financial upped their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.69.

Corning Stock Performance

Shares of GLW stock opened at $183.14 on Tuesday. Corning Incorporated has a 12 month low of $51.32 and a 12 month high of $271.78. The company’s fifty day simple moving average is $193.56 and its 200-day simple moving average is $151.06. The firm has a market cap of $157.62 billion, a PE ratio of 87.63, a P/E/G ratio of 2.50 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 earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’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. Equities research analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Corning Company 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.