Corning Incorporated (NYSE:GLW) Stock Position Raised by Advisory Services Network LLC

Advisory Services Network LLC raised its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 35.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,789 shares of the electronics maker's stock after buying an additional 24,369 shares during the quarter. Advisory Services Network LLC's holdings in Corning were worth $4,457,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Corning by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 99,903,247 shares of the electronics maker's stock worth $4,747,402,000 after buying an additional 916,528 shares during the period. Geode Capital Management LLC raised its holdings in shares of Corning by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 18,470,610 shares of the electronics maker's stock worth $875,633,000 after purchasing an additional 533,686 shares during the period. Norges Bank purchased a new position in shares of Corning in the 4th quarter worth about $490,933,000. Invesco Ltd. lifted its stake in shares of Corning by 5.1% in the 4th quarter. Invesco Ltd. now owns 6,048,735 shares of the electronics maker's stock valued at $287,436,000 after purchasing an additional 293,713 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Corning by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,937,981 shares of the electronics maker's stock worth $234,653,000 after purchasing an additional 84,905 shares during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have weighed in on GLW shares. StockNews.com cut shares of Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. HSBC raised Corning from a "hold" rating to a "buy" rating and upped their target price for the stock from $51.00 to $60.00 in a research report on Thursday, January 30th. Hsbc Global Res upgraded shares of Corning from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 30th. Bank of America lifted their price target on shares of Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. Finally, Barclays lowered their target price on Corning from $53.00 to $52.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $53.69.

Insider Buying and Selling at Corning

In other news, SVP Michael Alan Bell sold 2,209 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $49.87, for a total transaction of $110,162.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Eric S. Musser sold 30,000 shares of Corning stock in a transaction on Friday, January 31st. The stock was sold at an average price of $51.92, for a total value of $1,557,600.00. Following the completion of the transaction, the chief operating officer now owns 152,944 shares in the company, valued at $7,940,852.48. The trade was a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Corning Price Performance

GLW traded up $0.36 on Tuesday, reaching $41.97. The company had a trading volume of 1,439,985 shares, compared to its average volume of 5,918,348. The company has a fifty day moving average of $47.34 and a 200-day moving average of $47.78. The company has a market capitalization of $35.96 billion, a P/E ratio of 72.36, a PEG ratio of 1.50 and a beta of 1.03. Corning Incorporated has a one year low of $30.72 and a one year high of $55.33. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. As a group, equities research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, February 28th. Corning's dividend payout ratio (DPR) is presently 193.10%.

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.