Corning Incorporated $GLW Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA decreased its holdings in shares of Corning Incorporated (NYSE:GLW) by 20.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the electronics maker’s stock after selling 15,000 shares during the period. Banque Pictet & Cie SA’s holdings in Corning were worth $5,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning during the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new position in Corning in the third quarter worth approximately $27,000. Cornerstone Planning Group LLC grew its position in Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after buying an additional 124 shares during the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Corning by 111.1% in the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new position in shares of Corning in the third quarter valued at $33,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the transaction, the executive vice president directly owned 3,461 shares of the company’s stock, valued at $450,691.42. This represents a 81.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John Z. Zhang sold 1,531 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $133.75, for a total value of $204,771.25. The SEC filing for this sale provides additional information. Insiders sold 233,201 shares of company stock valued at $32,614,558 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup raised their price objective on Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Bank of America upped their target price on Corning from $144.00 to $155.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Susquehanna lifted their price target on Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Finally, HSBC restated a “buy” rating and set a $135.00 price objective on shares of Corning in a report on Friday, February 13th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $132.08.

Corning Stock Performance

GLW stock opened at $147.92 on Friday. The firm has a 50 day simple moving average of $130.33 and a 200 day simple moving average of $101.40. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $162.10. The stock has a market cap of $127.07 billion, a P/E ratio of 80.39, a P/E/G ratio of 2.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59.

Corning (NYSE:GLW) last released its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, February 27th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Corning’s dividend payout ratio is 60.87%.

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.