AT&T Inc. (T), whose origins date back to 1876 with the invention of the telephone by Alexander Graham Bell, is one of the largest telecommunications companies in the world. AT&T operates as a holding company with subsidiaries and affiliates that operate globally in the telecommunications, media, and technology industries. It offers wireless network services, video and voice communications services, and produces and distributes feature films, television, and other content, and advertising services.

The top shareholders of AT&T are Randall L. Stephenson, John J. Stephens, William A. Blase, Vanguard Group Inc., BlackRock Inc. (BLK), and State Street Corp. (STT).

AT&T's 12-month trailing net income and revenue are $14.4 billion and $179.1 billion, respectively. The company's market cap is about $215.6 billion. These financial data are as of July 17, 2020.

Below, we look in more detail at AT&T's top six shareholders.

"Insider" refers to people in senior management positions and members of the board of directors, as well as people or entities that own more than 10% of the company's stock. In this context, it has nothing to do with insider trading.

Top 3 Individual Insider Shareholders

Randall L. Stephenson

Randall L. Stephenson owns a total of 1,410,637 AT&T shares, representing 0.02% of the company's total shares outstanding. Mr. Stephenson is AT&T's Executive Chairman of the Board of Directors and recently stepped down as Chief Executive Officer (CEO), a position he held since 2007.

During his 13-year tenure as CEO, Stephenson reshaped AT&T and significantly diversified the company through a series of major acquisitions, including DirecTV in 2015 and Time Warner in 2018. He made a failed attempt to buy T-Mobile in 2011. Since 2007, AT&T has steadily increased its dividend payouts to shareholders.

Prior to becoming CEO, Mr. Stephenson held a number of positions at Southwestern Bell Telephone Co. (later renamed SBC Communications), an AT&T subsidiary, which he joined in 1982. From 2001 to 2004, he served as Southwestern Bell's Senior Executive Vice President and Chief Financial Officer (CFO), and as chief operating officer (COO) from 2004 to 2007. He joined AT&T's Board in 2005. He is expected to retire as Executive Chairman in January 2021.

John J. Stephens

John J. Stephens owns a total of 553,457 AT&T shares, representing 0.01% of the company's total shares outstanding. Mr. Stephens, who first joined AT&T in 1992, serving in key positions during AT&T's period of dramatic growth in size. He has served as Senior Executive Vice President and CFO since 2011. Mr. Stephens previously held numerous financial and tax-related positions, such as Senior Vice President and Controller, which included responsibility as CFO for AT&T's Diversified Services business unit, Vice President (Taxes), and Managing Director-Taxes. Before joining AT&T, he was a tax senior manager at Ernst & Young LLP.

William A. Blase

William A. Blase owns a total of 246,839 AT&T shares, representing less than 0.01% of the company's total shares outstanding. Mr. Blase has served as AT&T's Senior Executive Vice President-Human Resources since 2007. Between 2005 and 2007, he served as Executive Vice President-Labor Relations.

Mr. Blase started his career in 1979 with Southwestern Bell Telephone Co., which was later renamed SBC Communications. He held numerous roles at SBC, including President and CEO of SBC Southwest and President and CEO of SBC SNET.

Top 3 Institutional Shareholders

Institutional investors hold just over half of AT&T's shares at about 54% to 56% of total shares outstanding. 

Vanguard Group Inc.

Vanguard Group owns 596.4 million shares of AT&T, representing 8.4% of total shares outstanding, according to the company's 13F filing for the period ending March 31, 2020. The company is primarily a mutual fund and ETF management company with about $6.2 trillion in global assets under management (AUM). The Vanguard S&P 500 ETF (VOO) is one of the company's largest exchange-traded funds (ETFs) with about $154 billion in AUM. AT&T comprises 0.84% of VOO's holdings.

BlackRock Inc.

BlackRock owns 493.7 million shares of AT&T, representing 6.9% of total shares outstanding, according to the company's 13F filing for the period ending March 31, 2020. The company is primarily a mutual fund and ETF management company with approximately $6.47 trillion in AUM.

The iShares Core S&P 500 ETF (IVV) is one of BlackRock's largest ETFs with approximately $203 billion in AUM. AT&T comprises 0.80% of IVV's holdings.

State Street Corp.

State Street owns 296.0 million shares of AT&T, representing 4.2% of total shares outstanding, according to the company's 13F filing for the period ending March 31, 2020. The company is primarily a manager of mutual funds, ETFs, and other assets with approximately $3.1 trillion in AUM. The SPDR S&P 500 ETF Trust (SPY) is one of State Street's largest ETFs with approximately $288 billion in AUM. AT&T comprises 0.81% of SPY's holdings.

Diversity & Inclusiveness of AT&T

As part of our effort to improve the awareness of the importance of diversity in companies, we offer investors a glimpse into the transparency of more than just who are the shareholders at AT&T. We highlight the company's commitment to diversity, inclusiveness, and social responsibility as a whole. Find out how AT&T reports the diversity of its management and workforce. The ✔ shows if AT&T discloses its data about the diversity of its board of directors, C-Suite, general management, and employees overall across a variety of markets.

AT&T Diversity & Inclusiveness Reporting
  Race Gender Ability Veteran Status Sexual Orientation
Board of Directors          
C-Suite          
General Management ✔ (U.S. Only) ✔ (U.S. Only)      
Employees ✔ (U.S. Only) ✔ (U.S. Only) ✔ (U.S. Only) ✔ (U.S. Only)