Corning Incorporated (NYSE:GLW) Shares Purchased by Bogart Wealth LLC

Bogart Wealth LLC grew its stake in shares of Corning Incorporated (NYSE:GLW) by 18.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,419 shares of the electronics maker’s stock after acquiring an additional 219 shares during the quarter. Bogart Wealth LLC’s holdings in Corning were worth $67,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Swedbank AB boosted its position in Corning by 60.2% in the third quarter. Swedbank AB now owns 38,314 shares of the electronics maker’s stock valued at $1,730,000 after buying an additional 14,403 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new stake in Corning in the third quarter valued at approximately $214,000. Good Life Advisors LLC boosted its position in Corning by 19.0% in the third quarter. Good Life Advisors LLC now owns 11,314 shares of the electronics maker’s stock valued at $511,000 after buying an additional 1,804 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Corning by 10.1% in the third quarter. Bleakley Financial Group LLC now owns 12,316 shares of the electronics maker’s stock valued at $556,000 after buying an additional 1,130 shares during the last quarter. Finally, Vista Investment Partners LLC purchased a new stake in Corning in the third quarter valued at approximately $474,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity at Corning

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $49.09, for a total value of $435,722.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the completion of the transaction, the senior vice president now directly owns 6,700 shares of the company’s stock, valued at approximately $324,213. This represents a 42.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,085 shares of company stock valued at $2,345,436. 0.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GLW has been the topic of a number of recent research reports. Citigroup upped their target price on Corning from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. HSBC upgraded Corning from a “hold” rating to a “buy” rating and upped their price objective for the stock from $51.00 to $60.00 in a research report on Thursday, January 30th. Morgan Stanley upped their price objective on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Oppenheimer restated an “outperform” rating and issued a $58.00 price objective (up previously from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Finally, Hsbc Global Res upgraded Corning from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.00.

Corning Trading Up 0.9 %

Shares of NYSE:GLW opened at $52.58 on Friday. Corning Incorporated has a 1 year low of $30.72 and a 1 year high of $55.33. The firm has a market capitalization of $45.02 billion, a price-to-earnings ratio of 90.66, a price-to-earnings-growth ratio of 1.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. The business’s 50 day moving average price is $49.46 and its 200-day moving average price is $46.19.

Corning (NYSE:GLW) last announced its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating 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 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, February 28th. Corning’s dividend payout ratio is currently 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.