Who owns most of AT&T?
Who owns most of AT&T
Leading worldwide communications and technology corporation AT&T Inc. offers fixed-line phone services, wireless phoning, and broadband/subscription-based television broadcasting services. With tens of millions of owners, this listed firm is The following lists the owners of most of AT&T's Internet equity.
Located in the United States, the Vanguard Group is a mutual fund corporation handling a range of mutual funds and associated products. With approximately 8% of outstanding shares, Vanguard became the biggest shareholder and this paper examines its position of AT&T up to December 2022. Valued at nearly $12 billion, this is more than 637,445,666 shares.
With its headquarters in New York, BlackRock Inc. is a prominent worldwide investment management firm Based on AT&T's disclosures as of December 2022, BlackRock's ownership share is expected to be 6.9% of the company's total outstanding shares. BlackRock, with more than 550 million shares worth almost $10.5 billion, ranks as the second biggest ATT shareholder.
Having its headquarters in Boston, State Street Corporation is a financial services and bank holding business based in America. State Street Company is the trustee or administrator of employee benefit programs with more than 320 million AT&T common shares as of December 2022. This corresponds to around 23,381,000 outstanding basis shares, valued at more than $6 billion.
The three major index funds are Vanguard Group with 5.7%, BlackRock Inc. with 4.8%, and State Street Corporation with 4.6% which means that these three giant investment firms control 15.1% of all AT&T shares worth more than $28 billion today’s market price. The other shares are shareholders’ stakes, which are held by a multitude of institutional and retail investors globally.
These asset management firms have major stakes but most of their shares lie with ownership categories other than direct ones with the firms under management. For instance, a significant number of the AT&T shares being held by Vanguard may be through different mutual funds as well as Exchange Traded Funds (ETFs) that millions of investors individually hold.
Some other major institutional holders of AT&T stock include
- Wellington Management Group LLP with 3.1% of stake is the largest investor in this company.
- Geode Capital Management LLC with 1.5% of the total ownership.
- Schwab Investment Management Inc – 1.4% of ownership
- TD Asset Management Inc. – 1.1% of the total votes and 1.2% of the voting power.
Lastly, as at the time of the last filings, institutional investors hold about 56% of AT&T shares. The remaining 44% are possibly held mostly by individual investors since large investors prefer to hold large blocks of stocks.
Unlike other tech firms like Facebook or Google, which have supervoting stock, meaning that the founders and executives control more voting stock, AT&T is free from multiple share class structures. Such a structure of AT&T common stock entails that each share of the stock has the same voting rights and has the same economic value as well. This implies that control of the company’s management is proportional to the proportion of shares that one holds.
Currently, no one person can hold more than the maximum percentage share of AT&T’s stocks; however, Vanguard, BlackRock, and State Street Companies have the highest percentage stake in AT&T and thus wield considerable power. If each of them cast their votes in proportion to the number of shares they owned, then they could influence the overbalance in a particular direction.
The current distribution of share ownership of AT&T illustrates the diverse sectors of this telecom tycoon in the investing markets of the world. Thus, no single party controls AT&T through ownership while large asset managers direct a large percentage on behalf of their investor-clients. This breakdown gives a glimpse into who generates profits and losses beyond AT&T’s results.
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