Good Life Advisors LLC Has $446,000 Holdings in Corning Incorporated (NYSE:GLW)

Good Life Advisors LLC decreased its stake in Corning Incorporated (NYSE:GLW) by 17.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,384 shares of the electronics maker’s stock after selling 1,930 shares during the quarter. Good Life Advisors LLC’s holdings in Corning were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLW. Wellington Management Group LLP grew its holdings in shares of Corning by 0.3% in the 3rd quarter. Wellington Management Group LLP now owns 39,225,452 shares of the electronics maker’s stock valued at $1,771,029,000 after buying an additional 133,214 shares during the period. State Street Corp lifted its holdings in Corning by 3.8% during the third quarter. State Street Corp now owns 33,983,090 shares of the electronics maker’s stock worth $1,534,337,000 after acquiring an additional 1,242,718 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Corning by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,853,076 shares of the electronics maker’s stock valued at $219,116,000 after acquiring an additional 38,168 shares during the period. FMR LLC increased its holdings in shares of Corning by 52.8% in the third quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock worth $168,095,000 after acquiring an additional 1,285,836 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Corning by 1.9% during the third quarter. Stifel Financial Corp now owns 2,810,435 shares of the electronics maker’s stock worth $126,893,000 after purchasing an additional 52,667 shares during the period. Institutional investors own 69.80% of the company’s stock.

Insider Activity at Corning

In other news, SVP Michael Alan Bell sold 2,209 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $49.87, for a total value of $110,162.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John P. Bayne, Jr. sold 8,876 shares of Corning stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $49.09, for a total transaction of $435,722.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,085 shares of company stock worth $2,103,486. Insiders own 0.40% of the company’s stock.

Corning Stock Down 1.5 %

GLW stock opened at $51.87 on Friday. The company has a market cap of $44.43 billion, a price-to-earnings ratio of 89.42, a P/E/G ratio of 1.53 and a beta of 1.03. Corning Incorporated has a twelve month low of $30.72 and a twelve month high of $55.33. The business has a 50 day moving average price of $49.79 and a two-hundred day moving average price of $46.58. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, beating 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%. Analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $0.28 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.16%. Corning’s payout ratio is 193.10%.

Analyst Ratings Changes

GLW has been the subject of several research analyst reports. UBS Group boosted their price objective on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. JPMorgan Chase & Co. boosted their price objective on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, HSBC raised Corning from a “hold” rating to a “buy” rating and lifted their price target for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. Three investment 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.00.

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.