Corning Incorporated (NYSE:GLW) Shares Sold by Oxford Financial Group LTD. LLC

Oxford Financial Group LTD. LLC cut its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 43.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,271 shares of the electronics maker's stock after selling 17,333 shares during the period. Oxford Financial Group LTD. LLC's holdings in Corning were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund raised its holdings in Corning by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 66,063 shares of the electronics maker's stock valued at $3,139,000 after buying an additional 204 shares during the period. Principal Securities Inc. raised its stake in shares of Corning by 3.5% in the fourth quarter. Principal Securities Inc. now owns 6,170 shares of the electronics maker's stock valued at $293,000 after acquiring an additional 211 shares during the period. Bogart Wealth LLC lifted its holdings in shares of Corning by 18.3% in the 4th quarter. Bogart Wealth LLC now owns 1,419 shares of the electronics maker's stock worth $67,000 after acquiring an additional 219 shares during the last quarter. Buffington Mohr McNeal boosted its stake in shares of Corning by 2.1% during the 4th quarter. Buffington Mohr McNeal now owns 10,461 shares of the electronics maker's stock worth $497,000 after purchasing an additional 220 shares during the period. Finally, Allworth Financial LP grew its holdings in Corning by 1.1% during the 4th quarter. Allworth Financial LP now owns 19,581 shares of the electronics maker's stock valued at $930,000 after purchasing an additional 220 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other Corning news, COO Eric S. Musser sold 30,000 shares of the firm's stock in a transaction on Friday, January 31st. The shares were 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 of the company's stock, valued at approximately $7,940,852.48. This trade represents a 16.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael Alan Bell sold 2,209 shares of Corning stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Hsbc Global Res raised shares of Corning from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 30th. HSBC upgraded Corning from a "hold" rating to a "buy" rating and boosted their price objective for the company from $51.00 to $60.00 in a report on Thursday, January 30th. Barclays reduced their target price on Corning from $53.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Citigroup boosted their target price on shares of Corning from $55.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Finally, StockNews.com downgraded shares of Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.31.

Corning Stock Down 1.8 %

Shares of GLW traded down $0.92 during mid-day trading on Tuesday, hitting $48.97. The company's stock had a trading volume of 4,027,548 shares, compared to its average volume of 5,506,704. The firm has a market capitalization of $41.95 billion, a price-to-earnings ratio of 84.43, a PEG ratio of 1.50 and a beta of 1.03. The company's 50-day moving average is $50.01 and its 200-day moving average is $47.83. 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 Incorporated has a 52-week low of $30.72 and a 52-week high of $55.33.

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

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be paid a $0.28 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 2.29%. Corning's dividend payout ratio (DPR) is presently 193.10%.

Corning Company Profile

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.