Rep. Marjorie Taylor Greene Buys Corning Incorporated (NYSE:GLW) Shares

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Corning Incorporated (NYSE:GLW). In a filing disclosed on November 04th, the Representative disclosed that they had bought between $1,001 and $15,000 in Corning stock on November 1st.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Digital Realty Trust (NYSE:DLR) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Apple (NASDAQ:AAPL) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Hershey (NYSE:HSY) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Advanced Micro Devices (NASDAQ:AMD) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Caterpillar (NYSE:CAT) on 10/21/2024.

Corning Price Performance

Corning stock opened at $47.27 on Wednesday. The business has a 50 day simple moving average of $44.71 and a 200 day simple moving average of $40.69. Corning Incorporated has a one year low of $26.94 and a one year high of $51.03. The company has a market capitalization of $40.45 billion, a PE ratio of 278.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. Corning had a net margin of 1.24% and a return on equity of 13.45%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that Corning Incorporated will post 1.95 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.28 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.37%. Corning’s payout ratio is presently 658.82%.

Institutional Investors Weigh In On Corning

Institutional investors have recently modified their holdings of the business. City Holding Co. boosted its stake in Corning by 545.5% in the third quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after acquiring an additional 600 shares during the last quarter. Global Trust Asset Management LLC increased its holdings in Corning by 2,250.0% in the third quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 900 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Corning by 90.8% in the third quarter. Venturi Wealth Management LLC now owns 994 shares of the electronics maker’s stock valued at $45,000 after purchasing an additional 473 shares during the last quarter. ESL Trust Services LLC acquired a new position in Corning in the first quarter valued at about $33,000. Finally, Accordant Advisory Group Inc bought a new position in Corning during the second quarter worth about $39,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GLW. Oppenheimer reiterated an “outperform” rating and issued a $58.00 target price (up previously from $51.00) on shares of Corning in a research note on Wednesday, October 30th. Susquehanna lifted their price objective on Corning from $46.00 to $55.00 and gave the company a “positive” rating in a research report on Friday, September 20th. Morgan Stanley restated an “equal weight” rating and set a $39.00 target price on shares of Corning in a report on Friday, July 26th. UBS Group raised their target price on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.08.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

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.