Alchemi Wealth LLC Makes New $279,000 Investment in Corning Incorporated $GLW

Alchemi Wealth LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 3,190 shares of the electronics maker’s stock, valued at approximately $279,000.

Several other large investors have also modified their holdings of the stock. Berbice Capital Management LLC purchased a new position in Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning during the fourth quarter worth approximately $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning during the third quarter worth approximately $25,000. Litman Gregory Wealth Management LLC acquired a new position in Corning in the fourth quarter worth $31,000. Finally, Evolution Wealth Management Inc. boosted its holdings in Corning by 58.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 141 shares during the period. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock worth $30,692,561 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Corning Trading Up 1.9%

Shares of GLW opened at $179.85 on Friday. 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 Incorporated has a 12-month low of $49.47 and a 12-month high of $211.79. The firm has a market capitalization of $154.79 billion, a PE ratio of 86.05, a price-to-earnings-growth ratio of 2.53 and a beta of 1.15. The stock’s fifty day simple moving average is $177.15 and its 200-day simple moving average is $133.67.

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 the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GLW. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. HSBC reissued a “buy” rating and issued a $135.00 price target on shares of Corning in a research note on Friday, February 13th. Susquehanna boosted their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, UBS Group upped their price target on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

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.