Corning Incorporated (NYSE:GLW) Shares Bought by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC increased its position in Corning Incorporated (NYSE:GLW) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,599 shares of the electronics maker’s stock after buying an additional 932 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Corning were worth $528,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GLW. Cape Investment Advisory Inc. boosted its holdings in Corning by 800.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 900 shares of the electronics maker’s stock worth $27,000 after buying an additional 800 shares in the last quarter. Access Investment Management LLC acquired a new position in shares of Corning in the 1st quarter valued at $28,000. EverSource Wealth Advisors LLC increased its stake in Corning by 347.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,060 shares of the electronics maker’s stock worth $32,000 after purchasing an additional 823 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Corning during the 1st quarter worth about $33,000. Finally, Register Financial Advisors LLC acquired a new position in shares of Corning in the first quarter worth about $33,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Down 0.5 %

Shares of NYSE:GLW opened at $42.32 on Thursday. The company’s fifty day moving average is $41.24 and its 200-day moving average is $36.37. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 1.57. Corning Incorporated has a 52 week low of $25.26 and a 52 week high of $46.39. The company has a market capitalization of $36.21 billion, a PE ratio of 59.61, a P/E/G ratio of 1.63 and a beta of 1.05.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.55 billion. Corning had a net margin of 3.53% and a return on equity of 12.69%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. Equities research analysts predict that Corning Incorporated will post 1.91 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.65%. Corning’s dividend payout ratio (DPR) is presently 157.75%.

Insider Activity at Corning

In other news, VP Jeffrey W. Evenson sold 12,830 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $37.39, for a total transaction of $479,713.70. Following the sale, the vice president now directly owns 57,280 shares of the company’s stock, valued at $2,141,699.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays upped their price target on shares of Corning from $36.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Fox Advisors upgraded Corning from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a report on Monday, June 17th. Mizuho upgraded Corning from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $44.00 to $47.00 in a research note on Wednesday, August 21st. Susquehanna boosted their target price on shares of Corning from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $39.00 price objective on shares of Corning in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.62.

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.