Corning Incorporated (NYSE:GLW) Stock Holdings Boosted by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC raised its position in shares of Corning Incorporated (NYSE:GLWFree Report) by 24.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,335 shares of the electronics maker’s stock after purchasing an additional 4,029 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Corning were worth $619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in shares of Corning by 17.4% during the 4th quarter. Pacer Advisors Inc. now owns 56,883 shares of the electronics maker’s stock worth $1,732,000 after acquiring an additional 8,433 shares in the last quarter. D.B. Root & Company LLC boosted its stake in shares of Corning by 2.0% during the 4th quarter. D.B. Root & Company LLC now owns 40,304 shares of the electronics maker’s stock worth $1,227,000 after acquiring an additional 794 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Corning during the 4th quarter worth $50,000. LVW Advisors LLC boosted its stake in shares of Corning by 8.6% during the 4th quarter. LVW Advisors LLC now owns 7,785 shares of the electronics maker’s stock worth $237,000 after acquiring an additional 617 shares in the last quarter. Finally, HB Wealth Management LLC lifted its holdings in shares of Corning by 24.2% in the fourth quarter. HB Wealth Management LLC now owns 9,871 shares of the electronics maker’s stock valued at $301,000 after purchasing an additional 1,926 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com lowered Corning from a “hold” rating to a “sell” rating in a report on Sunday. Barclays increased their target price on Corning from $28.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. HSBC lowered Corning from a “hold” rating to a “reduce” rating and set a $29.00 target price for the company. in a report on Thursday, February 1st. Finally, UBS Group increased their price objective on Corning from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.88.

Check Out Our Latest Stock Analysis on Corning

Insider Activity

In other news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $33.24, for a total value of $2,574,903.36. Following the sale, the insider now directly owns 215,254 shares of the company’s stock, valued at $7,155,042.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is currently owned by company insiders.

Corning Trading Down 0.5 %

Corning stock opened at $32.32 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.67 and a quick ratio of 1.05. The company has a market capitalization of $27.64 billion, a price-to-earnings ratio of 48.24, a PEG ratio of 1.85 and a beta of 1.08. Corning Incorporated has a one year low of $25.26 and a one year high of $36.01. The company’s fifty day moving average price is $32.01 and its two-hundred day moving average price is $30.24.

Corning (NYSE:GLWGet Free Report) last posted its earnings results on Tuesday, January 30th. The electronics maker reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.26 billion. Corning had a net margin of 4.62% and a return on equity of 12.31%. The business’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. On average, analysts forecast that Corning Incorporated will post 1.86 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Wednesday, February 28th. Corning’s dividend payout ratio is currently 167.16%.

About Corning

(Free Report)

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.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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