B. Riley Wealth Advisors Inc. Sells 3,540 Shares of Corning Incorporated (NYSE:GLW)

B. Riley Wealth Advisors Inc. lessened its holdings in shares of Corning Incorporated (NYSE:GLW) by 5.2% during the 4th quarter, Holdings Channel reports. The firm owned 64,769 shares of the electronics maker’s stock after selling 3,540 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Corning were worth $1,972,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Level Four Advisory Services LLC raised its position in shares of Corning by 3.8% during the fourth quarter. Level Four Advisory Services LLC now owns 9,411 shares of the electronics maker’s stock valued at $287,000 after buying an additional 343 shares during the last quarter. Madison Asset Management LLC increased its holdings in Corning by 0.7% in the 4th quarter. Madison Asset Management LLC now owns 53,113 shares of the electronics maker’s stock valued at $1,617,000 after acquiring an additional 349 shares during the last quarter. Harvest Investment Advisors LLC lifted its stake in Corning by 1.0% in the 3rd quarter. Harvest Investment Advisors LLC now owns 36,286 shares of the electronics maker’s stock worth $1,106,000 after purchasing an additional 364 shares in the last quarter. Venture Visionary Partners LLC boosted its holdings in shares of Corning by 2.0% during the 4th quarter. Venture Visionary Partners LLC now owns 19,359 shares of the electronics maker’s stock valued at $589,000 after purchasing an additional 380 shares during the last quarter. Finally, New World Advisors LLC grew its position in shares of Corning by 3.5% during the fourth quarter. New World Advisors LLC now owns 11,800 shares of the electronics maker’s stock valued at $359,000 after purchasing an additional 400 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLW has been the subject of a number of research reports. Fox Advisors raised Corning from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a research note on Monday. JPMorgan Chase & Co. raised shares of Corning from a “neutral” rating to an “overweight” rating and raised their target price for the company from $37.00 to $43.00 in a report on Thursday, May 30th. Bank of America upped their price target on shares of Corning from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, June 14th. StockNews.com raised shares of Corning from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Finally, UBS Group increased their price target on shares of Corning from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.92.

Insider Buying and Selling at Corning

In other news, VP Jeffrey W. Evenson sold 103,437 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $33.19, for a total transaction of $3,433,074.03. Following the transaction, the vice president now directly owns 70,110 shares of the company’s stock, valued at $2,326,950.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Corning news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $33.24, for a total transaction of $2,574,903.36. Following the transaction, the insider now directly owns 215,254 shares in the company, valued at approximately $7,155,042.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jeffrey W. Evenson sold 103,437 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $33.19, for a total transaction of $3,433,074.03. Following the completion of the sale, the vice president now owns 70,110 shares of the company’s stock, valued at approximately $2,326,950.90. The disclosure for this sale can be found here. Insiders sold a total of 252,671 shares of company stock valued at $8,450,971 in the last three months. Company insiders own 0.45% of the company’s stock.

Corning Trading Up 3.8 %

GLW opened at $40.21 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.67. The stock’s 50 day moving average price is $34.68 and its 200-day moving average price is $32.58. Corning Incorporated has a one year low of $25.26 and a one year high of $40.25. The stock has a market cap of $34.44 billion, a price-to-earnings ratio of 56.63, a P/E/G ratio of 1.76 and a beta of 1.08.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 30th. The electronics maker reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Corning had a return on equity of 12.31% and a net margin of 4.96%. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the company posted $0.41 EPS. Corning’s quarterly revenue was down 11.5% on a year-over-year basis. On average, equities analysts forecast that Corning Incorporated will post 1.9 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, May 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 31st. This represents a $1.12 dividend on an annualized basis and a yield of 2.79%. Corning’s payout ratio is 157.75%.

Corning 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.