Morgan Stanley cuts Comcast, adds Becton Dickinson to its model portfolio
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Morgan Stanley Wealth Management updated its equity model portfolio, including changing weights in a few big names.
The team added Becton Dickinson (NYSE:BDX) to its holdings "given its strong positioning in healthcare services with idiosyncratic opportunities driving recurring revenue and margin expansion amid strategic M&A," according to Senior Investment Strategist Daniel Skelly.
They closed out Comcast (NASDAQ:CMCSA) "as the company lacks a clear catalyst while industry competition and cyclical risk remain elevated."
And they boosted their position in UnitedHealth (UNH) "due to continued vertical integration and market share growth reinforcing its leading position in the health insurance and care industry."
They also adjusted stocks based on the "portfolio construction process, which seeks to better risk manage the model."
They boosted weights in Rockwell Automation (ROK), BlackRock (BLK) and Amazon (AMZN) and cut weights in J.P. Morgan Chase (JPM) and Qualcomm (QCOM).
The full portfolio by sector is below:
("Relative to Benchmark Weight reflects the Equity Model Portfolio Solutions (MPS) teamâs assessment of position sizing, relative to the relevant securityâs weight. A for Above corresponds to an internally held portfolio weight that is 200bps or greater above the securityâs corresponding weight in the benchmark index; I for In-Line corresponds to an internally held portfolio weight that is within 199bps above or below the securityâs corresponding weight in the benchmark index; B for Below corresponds to an internally held portfolio weight that is 200bps or greater below the securityâs corresponding weight in the benchmark index.")
Communication Services (XLC) - S&P 500 weight 8.2%

Alphabet (GOOGL), relative benchmark weight I, Quant Rating Strong Buy, SA Analyst Rating Buy

T-Mobile US (TMUS), A, QR Strong Buy, AR Buy

Verizon (VZ), I, QR Hold, AR Buy


Consumer Discretionary (XLY) - 9.9%

Amazon (AMZN), I, QR Hold, AR Buy

Home Depot (HD), I, QR Hold, AR Hold

Nike (NKE), I, QR Hold, AR Hold

Tesla (TSLA), I, QR Hold, AR Buy


Consumer Staples (XLP) - 7.3%

Costco Wholesale (COST), I, QR Hold, AR Hold

Estee Lauder (EL), I, QR Hold, AR Hold

Coca-Cola (KO), I, QR Hold, AR Hold

Monster Beverage (MNST), I, QR Hold, AR Hold

Procter & Gamble (PG), I, QR Hold, AR Hold


Energy (XLE) - 4.8%
Exxon Mobil (XOM), I, QR Hold, AR Hold

Financials (XLF) - 12.8%

BlackRock (BLK), A, QR Hold, AR Buy

Berkshire Hathaway (BRK.B), I, QR Strong Buy, AR Buy

J.P. Morgan (JPM), A, QR Hold, AR Buy

Mastercard (MA), I, QR Hold, AR Buy

Visa (V), I, QR Hold, AR Buy


Healthcare (XLV) - 14.7%

Amgen (AMGN), I, QR Hold, AR Buy

Becton Dickinson (BDX), I, QR Hold, AR Buy

Cigna (CI), I, QR Hold, AR Strong Buy

Eli Lilly (LLY), I, QR Hold, AR Hold

Pfizer (PFE), I, QR Hold, AR Buy

Thermo Fisher (TMO), I, QR Hold, AR Hold

UnitedHealth (UNH), I, QR Hold, AR Buy


Industrials (XLI) - 8.4%

Deere (DE), A, QR Hold, AR Hold

Eaton (ETN), I, QR Buy, AR Buy

Northrop Grumman (NOC), A, QR Hold, AR Buy

Rockwell Automation (ROK), I, QR Hold, AR Hold


Info Tech (XLK) - 25.7%

Apple (AAPL), I, QR Hold, AR Hold

Accenture (ACN), I, QR Hold, AR Buy

Salesforce (CRM), A, QR Strong Buy, AR Buy

Microsoft (MSFT), I, QR Hold, AR Buy

ServiceNow (NOW), I, QR Hold, AR Buy

Qualcomm (QCOM), A, QR Hold, AR Buy


Real Estate (XLRE) - 2.5%

Prologis (PLD), I, QR Hold, AR Buy

SBA Communications (SBAC), I

Utilities (XLU) - 2.9%
American Electric Power (AEP), A, QR Buy, AR Buy

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