Prospera Financial Services Inc Boosts Stake in Corning Incorporated $GLW

Prospera Financial Services Inc increased its holdings in shares of Corning Incorporated (NYSE:GLW) by 12.8% during the second quarter, HoldingsChannel reports. The fund owned 75,903 shares of the electronics maker’s stock after buying an additional 8,604 shares during the period. Prospera Financial Services Inc’s holdings in Corning were worth $3,992,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GLW. Brighton Jones LLC grew its stake in shares of Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the period. Cerity Partners LLC boosted its holdings in Corning by 1.2% during the first quarter. Cerity Partners LLC now owns 528,368 shares of the electronics maker’s stock worth $24,189,000 after buying an additional 6,439 shares in the last quarter. Xponance Inc. grew its position in Corning by 1.4% during the first quarter. Xponance Inc. now owns 114,110 shares of the electronics maker’s stock worth $5,224,000 after buying an additional 1,593 shares during the period. Ballentine Partners LLC increased its holdings in Corning by 1.5% in the first quarter. Ballentine Partners LLC now owns 27,005 shares of the electronics maker’s stock valued at $1,236,000 after buying an additional 412 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Corning by 3.2% during the 1st quarter. Arizona State Retirement System now owns 238,758 shares of the electronics maker’s stock valued at $10,930,000 after acquiring an additional 7,454 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Down 2.8%

GLW opened at $85.40 on Monday. The firm has a market cap of $73.22 billion, a P/E ratio of 54.05, a PEG ratio of 1.99 and a beta of 1.15. The business’s fifty day simple moving average is $81.68 and its 200 day simple moving average is $63.71. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $92.57. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning’s dividend payout ratio is presently 70.89%.

Insider Activity

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the transaction, the senior vice president owned 88,722 shares of the company’s stock, valued at $6,847,563.96. This represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction on Friday, October 31st. The shares were sold at an average price of $91.25, for a total value of $1,906,486.25. Following the completion of the sale, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This represents a 23.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 173,856 shares of company stock valued at $15,456,476 in the last 90 days. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GLW shares. Citigroup raised their price objective on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Argus raised their price target on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Mizuho set a $97.00 price objective on shares of Corning in a research report on Wednesday, October 29th. Finally, Barclays raised their target price on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.82.

About Corning

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.