Meridian Wealth Management LLC Has $9.39 Million Holdings in Netflix, Inc. (NFLX)

Meridian Wealth Management LLC increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 35,074 shares of the Internet television network’s stock after acquiring an additional 2,770 shares during the period. Netflix accounts for about 5.5% of Meridian Wealth Management LLC’s holdings, making the stock its 4th largest position. Meridian Wealth Management LLC’s holdings in Netflix were worth $9,388,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of NFLX. Vanguard Group Inc. lifted its position in Netflix by 0.8% during the third quarter. Vanguard Group Inc. now owns 30,143,430 shares of the Internet television network’s stock valued at $11,277,562,000 after purchasing an additional 249,147 shares during the period. Vanguard Group Inc increased its stake in shares of Netflix by 0.8% in the third quarter. Vanguard Group Inc now owns 30,143,430 shares of the Internet television network’s stock worth $11,277,562,000 after purchasing an additional 249,147 shares in the last quarter. FMR LLC grew its stake in Netflix by 6.1% during the second quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock valued at $10,377,360,000 after acquiring an additional 1,534,290 shares in the last quarter. Capital World Investors grew its stake in Netflix by 4.6% during the third quarter. Capital World Investors now owns 10,188,305 shares of the Internet television network’s stock valued at $3,811,751,000 after acquiring an additional 443,510 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Netflix by 3.9% during the third quarter. Jennison Associates LLC now owns 8,806,550 shares of the Internet television network’s stock valued at $3,294,795,000 after acquiring an additional 328,527 shares in the last quarter. 79.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of Netflix stock opened at $359.97 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 1.98. The firm has a market cap of $151.75 billion, a P/E ratio of 134.32, a P/E/G ratio of 2.88 and a beta of 1.38. Netflix, Inc. has a 12 month low of $231.23 and a 12 month high of $423.21.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, January 17th. The Internet television network reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.21 billion. Netflix had a return on equity of 25.82% and a net margin of 7.67%. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Netflix, Inc. will post 4.03 earnings per share for the current fiscal year.

In other news, Director Anne M. Sweeney sold 2,569 shares of the stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $350.00, for a total value of $899,150.00. Following the completion of the transaction, the director now directly owns 539 shares in the company, valued at approximately $188,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David B. Wells sold 588 shares of the stock in a transaction on Monday, November 19th. The shares were sold at an average price of $283.79, for a total value of $166,868.52. The disclosure for this sale can be found here. Insiders sold 212,303 shares of company stock worth $59,417,475 in the last ninety days. 4.29% of the stock is owned by company insiders.

Several research firms have recently issued reports on NFLX. BidaskClub lowered shares of Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. Argus reissued a “hold” rating on shares of Netflix in a research report on Tuesday, January 22nd. Macquarie set a $375.00 target price on shares of Netflix and gave the company a “buy” rating in a research report on Friday, January 18th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Netflix in a research report on Monday, January 21st. Finally, Aegis reissued a “hold” rating and set a $320.00 target price (down previously from $325.00) on shares of Netflix in a research report on Friday, January 18th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $376.33.

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Netflix Company Profile

Netflix, Inc provides Internet entertainment services. The company operates in three reportable segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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