23,470 Shares in Corning Incorporated $GLW Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new stake in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,470 shares of the electronics maker’s stock, valued at approximately $5,995,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after buying an additional 580,678 shares during the period. State Street Corp raised its stake in shares of Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after acquiring an additional 439,883 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after acquiring an additional 517,067 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after acquiring an additional 5,831,873 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after purchasing an additional 1,036,988 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Barclays dropped their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Bank of America upped their target price on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Mizuho reduced their price target on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Finally, Wall Street Zen lowered Corning from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.08.

Corning Price Performance

Corning stock opened at $149.91 on Friday. The stock has a market cap of $129.13 billion, a price-to-earnings ratio of 68.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a 1 year low of $65.09 and a 1 year high of $271.78. The firm has a 50-day moving average of $174.83 and a two-hundred day moving average of $163.35.

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

Corning Announces Dividend

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

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.