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).
As of February 9, 2023, AT&T's 12-month trailing revenue is $129.1 billion the company's market cap is about $135.3 billion.
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 Chair 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 retired as Executive Chair 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 over half of AT&T's shares at 52.3% of the total shares outstanding.
Vanguard Group Inc.
Vanguard Group owns 600.5 million shares of AT&T as of the period ending Sept. 30, 2022. The company is primarily a mutual fund and ETF management company. The Vanguard S&P 500 ETF (VOO) is one of the company's largest exchange-traded funds (ETFs) with about $285.2 billion in AUM.
BlackRock owns 495.2 million shares of AT&T for the period ending Sept. 30, 2022. The iShares Core S&P 500 ETF (IVV) is one of BlackRock's largest ETFs with approximately $314.2 billion in AUM.
State Street Corp.
State Street owns 280.9 million shares of AT&T for the period ending Sept. 30, 2022. The company is primarily a manager of mutual funds, ETFs, and other assets. The SPDR S&P 500 ETF Trust (SPY) is one of State Street's largest ETFs with approximately $285.2 billion in AUM.
Diversity and 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||✔||✔|
|General Management||✔ (U.S. Only)||✔ (U.S. Only)|
|Employees||✔ (U.S. Only)||✔||✔ (U.S. Only)||✔ (U.S. Only)||✔ (U.S. Only)|
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