Advanced Portfolio Management LLC Cuts Stock Position in Corning Incorporated $GLW

Advanced Portfolio Management LLC lessened its position in shares of Corning Incorporated (NYSE:GLW) by 50.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the electronics maker’s stock after selling 25,000 shares during the quarter. Corning comprises 3.7% of Advanced Portfolio Management LLC’s holdings, making the stock its 11th biggest position. Advanced Portfolio Management LLC’s holdings in Corning were worth $1,315,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Corning during the second quarter worth $534,936,000. Amundi increased its position in Corning by 64.3% during the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after buying an additional 2,507,797 shares in the last quarter. Nuveen LLC purchased a new stake in Corning in the first quarter valued at about $104,789,000. Kingstone Capital Partners Texas LLC purchased a new stake in Corning in the second quarter valued at about $92,560,000. Finally, Vanguard Group Inc. boosted its holdings in Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after acquiring an additional 1,582,895 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GLW has been the topic of several recent analyst reports. Barclays upped their price objective 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. Morgan Stanley set a $82.00 price target on shares of Corning in a report on Wednesday, October 29th. Oppenheimer set a $100.00 price objective on shares of Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. Citigroup upped their target price on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $91.64.

Insider Transactions at Corning

In other Corning news, EVP Lewis A. Steverson sold 23,142 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $89.05, for a total value of $2,060,795.10. Following the completion of the transaction, the executive vice president owned 17,575 shares in the company, valued at approximately $1,565,053.75. This represents a 56.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 88,722 shares in the company, valued at approximately $6,847,563.96. The trade was a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 173,856 shares of company stock worth $15,456,476. Insiders own 0.40% of the company’s stock.

Corning Stock Performance

NYSE GLW opened at $85.57 on Friday. The stock has a 50-day simple moving average of $84.75 and a two-hundred day simple moving average of $68.44. The firm has a market capitalization of $73.36 billion, a P/E ratio of 54.16, a PEG ratio of 1.83 and a beta of 1.11. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $92.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

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

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.