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Morningstar Insights: 3 Stocks Top Managers Are Selling

Susan Dziubinski, investment specialist with more than 30 years of experience at Morningstar covering stocks, funds, and portfolios gives an insight on Meta Platforms Inc (META), The Home Depot Inc (HD), and Comcast Corp (CMCSA) that form part of Morningstar’s Ultimate Stock-Pickers that sold last quarter.

Each quarter, we take a look at the recent transactions of some of the top money managers around—who we call our Ultimate Stock-Pickers.

Today, we’re taking a look at three stocks that several of our Ultimate Stock-Pickers sold last quarter.

3 Stocks Top Managers Are Selling

These stocks are being sold by top managers. Data as of Dec. 15, 2022.

1. Comcast CMCSA

2. Meta Platforms META

3. Home Depot HD

Nine of our 26 Ultimate Stock-Pickers scaled back in Comcast last quarter. The stock has had a tough year, losing roughly 25% in the third quarter alone. Growth has slowed at Comcast, and Morningstar thinks that the days of mid-single-digit broadband growth are behind us. However the company has great cash flow that has been returned to shareholders through buybacks and dividends, thereby increasing shareholder value. We think Comcast stock is significantly undervalued; we think shares are worth $60 each.

Eight managers trimmed Meta Platforms last quarter. Meta stock has plummeted more than 60% this year. The largest social network in the world has faced headwinds in 2022, including a strong dollar, economic uncertainty, a change in Apple’s data privacy policies, and possible fines for not complying with European privacy rules. The stock is trading well below Morningstar’s $260 fair value estimate.

And seven of our Ultimate Stock-Pickers pulled back on Home Depot last quarter. The world’s largest home improvement specialty retailer has had a good 2022, benefiting from healthy long-term housing dynamics and improvements in its merchandising and distribution network. We think Home Depot stock is worth $270 per share, and shares are trading well above that today.

Morningstar director Mike Hodel, strategist Eric Compton, senior analysts Jaime Katz and Ali Mogharabi, and associate analysts Ari Felhandler and Verushka Shetty provided the research behind this segment.

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