837 Shares in Corning Incorporated (NYSE:GLW) Purchased by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA acquired a new stake in Corning Incorporated (NYSE:GLW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 837 shares of the electronics maker’s stock, valued at approximately $40,000.

A number of other institutional investors have also bought and sold shares of GLW. Blue Trust Inc. lifted its position in Corning by 12.9% during the fourth quarter. Blue Trust Inc. now owns 23,201 shares of the electronics maker’s stock worth $1,048,000 after buying an additional 2,646 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Corning by 3.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 48,986 shares of the electronics maker’s stock worth $2,328,000 after acquiring an additional 1,830 shares during the period. Jamison Private Wealth Management Inc. raised its holdings in shares of Corning by 4.1% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 75,755 shares of the electronics maker’s stock worth $3,600,000 after acquiring an additional 2,983 shares during the period. Smith Chas P & Associates PA Cpas purchased a new stake in shares of Corning in the fourth quarter valued at about $202,000. Finally, Flagship Harbor Advisors LLC increased its position in Corning by 18.2% during the fourth quarter. Flagship Harbor Advisors LLC now owns 8,456 shares of the electronics maker’s stock worth $402,000 after purchasing an additional 1,302 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP John P. Bayne, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $48.39, for a total transaction of $241,950.00. Following the sale, the senior vice president now owns 6,700 shares of the company’s stock, valued at approximately $324,213. This trade represents a 42.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $49.09, for a total value of $435,722.84. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Corning Stock Performance

NYSE:GLW opened at $49.97 on Thursday. Corning Incorporated has a 52 week low of $30.72 and a 52 week high of $55.33. The company has a fifty day simple moving average of $48.62 and a two-hundred day simple moving average of $45.57. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. The company has a market cap of $42.78 billion, a price-to-earnings ratio of 293.93, a price-to-earnings-growth ratio of 1.46 and a beta of 1.04.

Corning (NYSE:GLW) last released 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 13.45% and a net margin of 1.24%. As a group, equities analysts anticipate that Corning Incorporated will post 1.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on GLW shares. StockNews.com upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. UBS Group increased their price objective on Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $58.00 price target (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. Finally, Citigroup boosted 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. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.23.

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.