Stratos Wealth Partners LTD. Sells 805 Shares of Corning Incorporated (NYSE:GLW)

Stratos Wealth Partners LTD. lowered its stake in Corning Incorporated (NYSE:GLW) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,864 shares of the electronics maker’s stock after selling 805 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Corning were worth $2,370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GLW. Sound Income Strategies LLC raised its stake in Corning by 76.7% during the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 227 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in Corning by 202.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after buying an additional 500 shares during the period. Cassady Schiller Wealth Management LLC purchased a new stake in Corning in the 3rd quarter worth $39,000. RPg Family Wealth Advisory LLC bought a new stake in Corning during the third quarter valued at about $40,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Corning in the fourth quarter valued at about $40,000. 69.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 stock was sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the transaction, the chief operating officer now directly owns 152,944 shares in the company, valued at $7,940,852.48. This trade represents a 16.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $48.39, for a total value of $241,950.00. Following the completion of the sale, the senior vice president now owns 6,700 shares of the company’s stock, valued at $324,213. This represents a 42.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,085 shares of company stock valued at $2,345,436 in the last 90 days. Company insiders own 0.45% of the company’s stock.

Corning Stock Performance

NYSE:GLW opened at $52.99 on Friday. The firm has a market capitalization of $45.37 billion, a PE ratio of 91.36, a PEG ratio of 1.51 and a beta of 1.03. The stock’s fifty day moving average is $49.13 and its 200 day moving average is $45.88. Corning Incorporated has a fifty-two week low of $30.72 and a fifty-two week high of $55.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.62.

Corning (NYSE:GLW) last posted its quarterly earnings data 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, sell-side analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Hsbc Global Res raised Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and issued a $58.00 price target (up previously from $51.00) on shares of Corning in a research note on Wednesday, October 30th. Citigroup increased their price objective on shares of Corning from $55.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, StockNews.com raised Corning from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

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.