Corning Incorporated (NYSE:GLW) Shares Sold by Oxford Financial Group LTD. LLC

Oxford Financial Group LTD. LLC lessened its stake in Corning Incorporated (NYSE:GLW) by 43.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,271 shares of the electronics maker’s stock after selling 17,333 shares during the period. Oxford Financial Group LTD. LLC’s holdings in Corning were worth $1,058,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GLW. Sound Income Strategies LLC increased its position in Corning by 76.7% in the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 227 shares during the period. Sierra Ocean LLC acquired a new position in Corning during the 4th quarter worth approximately $25,000. Asset Planning Inc acquired a new position in Corning during the 4th quarter worth approximately $29,000. Rosenberg Matthew Hamilton increased its position in Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 500 shares during the period. Finally, Mainstream Capital Management LLC acquired a new position in Corning during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

GLW stock opened at $48.66 on Friday. Corning Incorporated has a 1 year low of $30.72 and a 1 year high of $55.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.62. The stock’s 50 day moving average price is $49.88 and its 200 day moving average price is $47.63. The firm has a market cap of $41.68 billion, a P/E ratio of 83.89, a PEG ratio of 1.50 and a beta of 1.03.

Corning (NYSE:GLW) last posted its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. On average, sell-side analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, February 28th. Corning’s dividend payout ratio (DPR) is 193.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GLW shares. Morgan Stanley boosted their target price on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Bank of America boosted their target price on Corning from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup boosted their target price on Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. HSBC raised Corning from a “hold” rating to a “buy” rating and boosted their price target for the stock from $51.00 to $60.00 in a research note on Thursday, January 30th. Finally, StockNews.com lowered Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $54.31.

Insider Transactions at Corning

In other news, COO Eric S. Musser sold 30,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the sale, the chief operating officer now owns 152,944 shares in the company, valued at $7,940,852.48. This trade represents a 16.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Alan Bell sold 2,209 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

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.