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Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. AT&T's average diluted shares outstanding for the quarter that ended in Mar. 2026 was 7,027 Mil.
A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.
Be Aware
Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.
AT&T Shares Outstanding (Diluted Average) Related Terms
AT&T Shares Outstanding (Diluted Average) Historical Data
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The historical data trend for AT&T's Shares Outstanding (Diluted Average) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.
Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.
Please note: GuruFocus named Shares Outstanding (EOP) is the shares for that exact time point. It is usually used to calculate balance sheet related items, such as Book Value per Share, etc. While Shares Outstanding (Diluted Average) and Shares Outstanding (Basic Average) are the weighted average shares over a period of time (a year, a quarter, or so). They are usually used to calculate income statement or cashflow statement related items, such as Earnings per Share (Diluted), etc.
What does a Shares Outstanding (Diluted Average) of 7,027 Mil mean?
AT&T (XSWX:T) has a Shares Outstanding (Diluted Average) of 7,027 Mil as of Mar. 2026. The average shares outstanding over two periods including dilutive securities like preferred shares and convertibles. View historical data on AT&T and its competitors.
Is AT&T's Shares Outstanding (Diluted Average) too high?
AT&T's current Shares Outstanding (Diluted Average) is 7,027 Mil. Overall, AT&T has a GF Score™ of 61/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does AT&T's Shares Outstanding (Diluted Average) compare to VZ and TMUS?
AT&T's Shares Outstanding (Diluted Average) of 7,027 Mil can be compared against companies in the Telecommunication Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (Diluted Average) for a Telecommunication Services company?
A good Shares Outstanding (Diluted Average) depends on the Telecommunication Services industry context. However, Shares Outstanding (Diluted Average) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (Diluted Average) mean?
A high Shares Outstanding (Diluted Average) can signal that a stock is expensive relative to its fundamentals. The average shares outstanding over two periods including dilutive securities like preferred shares and convertibles. View historical data on AT&T and its competitors. AT&T's current Shares Outstanding (Diluted Average) is 7,027 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AT&T stock overvalued right now?
Based on GuruFocus' analysis, AT&T (XSWX:T) is currently considered Fairly Valued. The stock's GF Value™ is CHF18.87, compared to a current price of CHF17.80 — trading 5.7% below its estimated fair value. The current Shares Outstanding (Diluted Average) is 7,027 Mil. AT&T's overall GF Score™ is 61/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (Diluted Average) calculated?
Shares Outstanding (Diluted Average) is calculated from a company's financial statements. For AT&T (XSWX:T), the current Shares Outstanding (Diluted Average) is 7,027 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is AT&T (XSWX:T) Overvalued in 2026?
Based on GuruFocus' analysis, AT&T stock appears to be undervalued.
The current stock price of CHF17.80 is trading 5.7% below its estimated GF Value™ of CHF18.87.
GuruFocus considers AT&T to be Fairly Valued.
Key valuation signals for XSWX:T:
Shares Outstanding (Diluted Average): 7,027 Mil
GF Value™: CHF18.87 vs. price of CHF17.80 (5.7% below fair value)
No single metric tells the full story. See the XSWX:T stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
The wireless business contributes nearly 70% of AT&T's revenue. The company is the third-largest US wireless carrier, connecting 74 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 14% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential services, about 11% of revenue, primarily consist of in-home broadband internet access, serving 15 million customers. AT&T also has a sizable presence in Mexico, with 25 million wireless customers, but this business only accounts for 3% of revenue. The company recently sold its 70% equity stake in satellite television provider DirecTV to its partner, private equity firm TPG.
61GF Score
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