Corning Incorporated (NYSE:GLW) Shares Acquired by Pure Financial Advisors LLC

Pure Financial Advisors LLC lifted its position in Corning Incorporated (NYSE:GLW) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,819 shares of the electronics maker’s stock after acquiring an additional 787 shares during the period. Pure Financial Advisors LLC’s holdings in Corning were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. City Holding Co. lifted its stake in Corning by 545.5% in the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock worth $32,000 after purchasing an additional 600 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in Corning by 202.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after buying an additional 500 shares in the last quarter. Cassady Schiller Wealth Management LLC acquired a new position in Corning during the third quarter worth $39,000. RPg Family Wealth Advisory LLC purchased a new stake in Corning in the 3rd quarter valued at $40,000. Finally, Global Trust Asset Management LLC increased its stake in shares of Corning by 2,250.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 900 shares during the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GLW. Citigroup upped 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. Morgan Stanley raised their price target on shares of Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. StockNews.com upgraded Corning from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Deutsche Bank Aktiengesellschaft raised their target price on Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their target price on Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insider Activity

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of Corning 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 completion of the sale, the senior vice president now directly owns 6,700 shares of the company’s stock, valued at $324,213. The trade was a 42.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction dated 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. Company insiders own 0.45% of the company’s stock.

Corning Trading Up 4.8 %

Shares of GLW stock opened at $54.01 on Thursday. Corning Incorporated has a fifty-two week low of $30.30 and a fifty-two week high of $54.33. The company has a 50 day moving average price of $48.05 and a 200 day moving average price of $45.25. The stock has a market capitalization of $46.24 billion, a P/E ratio of 317.69, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.66.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.72 billion. Corning had a net margin of 1.24% and a return on equity of 13.45%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities research analysts predict that Corning Incorporated will post 1.95 EPS for the current fiscal year.

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.