Corning Incorporated (NYSE:GLW) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its holdings in Corning Incorporated (NYSE:GLW) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,813 shares of the electronics maker’s stock after acquiring an additional 3,445 shares during the quarter. Apollon Wealth Management LLC’s holdings in Corning were worth $2,225,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GLW. Northstar Advisory Group LLC lifted its holdings in shares of Corning by 258.4% in the 4th quarter. Northstar Advisory Group LLC now owns 123,808 shares of the electronics maker’s stock valued at $5,883,000 after buying an additional 89,268 shares during the period. Franklin Resources Inc. raised its position in Corning by 48.4% during the third quarter. Franklin Resources Inc. now owns 191,648 shares of the electronics maker’s stock valued at $8,975,000 after acquiring an additional 62,514 shares in the last quarter. FMR LLC lifted its holdings in Corning by 52.8% in the third quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock valued at $168,095,000 after acquiring an additional 1,285,836 shares during the period. Fifth Third Bancorp boosted its position in Corning by 16.8% in the 4th quarter. Fifth Third Bancorp now owns 111,448 shares of the electronics maker’s stock worth $5,296,000 after purchasing an additional 16,001 shares in the last quarter. Finally, First Financial Bank Trust Division grew its stake in shares of Corning by 27.5% during the 4th quarter. First Financial Bank Trust Division now owns 138,153 shares of the electronics maker’s stock worth $6,565,000 after purchasing an additional 29,790 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Down 1.2 %

Shares of GLW stock opened at $52.99 on Monday. 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. The stock’s fifty day moving average is $49.22 and its two-hundred day moving average is $45.94. The firm has a market capitalization of $45.37 billion, a P/E ratio of 91.36, a PEG ratio of 1.55 and a beta of 1.03.

Corning (NYSE:GLW) last posted its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. Research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GLW has been the subject of several analyst reports. HSBC upgraded shares of Corning from a “hold” rating to a “buy” rating and boosted their target price for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. Hsbc Global Res raised shares of Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $58.00 price target (up previously from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Finally, Morgan Stanley boosted their price objective on Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.00.

Insider Transactions at Corning

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $48.39, for a total transaction of $241,950.00. Following the transaction, the senior vice president now owns 6,700 shares of the company’s stock, valued at approximately $324,213. The trade was a 42.74 % 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 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 value of $110,162.83. The disclosure for this sale can be found here. Insiders have sold a total of 46,085 shares of company stock worth $2,345,436 in the last ninety days. Insiders own 0.40% of the company’s stock.

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.