Every investor in PCCW Limited (HKG:8) should be aware of the most powerful shareholder groups. With 42% stake, individual investors possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company.
As a result, individual investors collectively scored the highest last week as the company hit HK$25b market cap following a 5.8% gain in the stock.
In the chart below, we zoom in on the different ownership groups of PCCW.
See our latest analysis for PCCW
SEHK:8 Ownership Breakdown November 18th 2022
What Does The Institutional Ownership Tell Us About PCCW?
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.
We can see that PCCW does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at PCCW's earnings history below. Of course, the future is what really matters.
SEHK:8 Earnings and Revenue Growth November 18th 2022
PCCW is not owned by hedge funds. Our data shows that Pacific Century Regional Developments Limited is the largest shareholder with 23% of shares outstanding. In comparison, the second and third largest shareholders hold about 18% and 6.0% of the stock. Tzar Kai Li, who is the third-largest shareholder, also happens to hold the title of Chairman of the Board.
To make our study more interesting, we found that the top 5 shareholders control more than half of the company which implies that this group has considerable sway over the company's decision-making.
While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.
Insider Ownership Of PCCW
The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.
Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.
We can report that insiders do own shares in PCCW Limited. This is a big company, so it is good to see this level of alignment. Insiders own HK$1.6b worth of shares (at current prices). Most would say this shows alignment of interests between shareholders and the board. Still, it might be worth checking if those insiders have been selling.
General Public Ownership
The general public, who are usually individual investors, hold a 42% stake in PCCW. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.
Public Company Ownership
It appears to us that public companies own 41% of PCCW. It's hard to say for sure but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership.
Next Steps:
While it is well worth considering the different groups that own a company, there are other factors that are even more important. Consider risks, for instance. Every company has them, and we've spotted 2 warning signs for PCCW you should know about.
Ultimately the future is most important. You can access this free report on analyst forecasts for the company.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
電訊盈科有限公司(HKG:8)的每一位投資者都應該知道最強大的股東羣體。個人投資者持有42%的股份,擁有公司的最高股份。換句話説,該集團將從他們對公司的投資中獲得最大(或損失最大)。
因此,個人投資者上週的得分最高,該公司在股價上漲5.8%後,市值達到250億港元。
在下面的圖表中,我們放大了電訊盈科的不同所有權集團。
查看我們對電訊盈科的最新分析
聯交所:8所有權明細2022年11月18日
關於電訊盈科,機構持股告訴了我們什麼?
機構通常在向自己的投資者報告時,以基準來衡量自己,因此一旦一隻股票被納入主要指數,它們往往會對這隻股票變得更加熱情。我們預計,大多數公司都會有一些機構登記在冊,特別是在它們正在增長的情況下。
我們可以看到,電訊盈科確實有機構投資者;他們持有公司很大一部分股票。這表明在專業投資者中有一定的可信度。但我們不能僅僅依靠這一事實,因為機構有時會做出糟糕的投資,就像每個人一樣。如果多家機構同時改變對一隻股票的看法,你可能會看到股價迅速下跌。因此,值得一看的是電訊盈科的盈利歷史。當然,未來才是真正重要的。
聯交所:8盈利及收入增長2022年11月18日
電訊盈科並非由對衝基金所有。我們的數據顯示,盈科區域發展有限公司是最大股東,持有23%的流通股。相比之下,第二大股東和第三大股東分別持有約18%和6.0%的股份。作為第三大股東的沙皇Li也恰好持有董事長頭銜。
為了讓我們的研究更有趣,我們發現,前5名股東控制着公司一半以上的股份,這意味着這一羣體對公司的決策具有相當大的影響力。
雖然研究一家公司的機構所有權數據是有意義的,但研究分析師的情緒以瞭解風向也是有意義的。有相當數量的分析師追蹤該股,因此瞭解他們對未來的總體看法可能是有用的。
電訊盈科的內部人士所有權
公司內部人的定義可能是主觀的,而且在不同的司法管轄區之間確實有所不同。我們的數據反映了個別內部人士,至少捕捉到了董事會成員。公司管理層對董事會負責,董事會應代表股東的利益。值得注意的是,有時最高層管理人員本身也是董事會成員。
內部人持股是積極的,當它標誌着領導層像公司的真正所有者一樣思考時。然而,高內部人持股也可以給公司內部的一個小團體帶來巨大的權力。在某些情況下,這可能是負面的。
我們可以報告,內部人士確實持有電訊盈科有限公司的股份。這是一家大公司,所以看到這種程度的結盟是件好事。內部人士持有價值16億港元的股票(按當前價格計算)。大多數人會説,這表明股東和董事會之間的利益一致。不過,這些內部人士是否一直在拋售股票,或許值得一查。
一般公有制
公眾通常是個人投資者,他們持有電訊盈科42%的股份。儘管這種規模的所有權可能不足以影響有利於他們的政策決定,但他們仍然可以對公司政策產生集體影響。
上市公司所有權
在我們看來,上市公司持有電訊盈科41%的股份。很難説肯定,但這表明他們的商業利益交織在一起。這可能是一個戰略利害關係,因此值得關注這一所有權變化的空間。
接下來的步驟:
雖然考慮擁有一家公司的不同集團是很值得的,但還有其他更重要的因素。例如,考慮一下風險。每家公司都有它們,我們已經發現電訊盈科的2個警告標誌你應該知道。
最終未來是最重要的。您可以訪問此免費分析師對該公司的預測報告。
注:本文中的數字是使用過去12個月的數據計算的,指的是截至財務報表日期的最後一個月的12個月期間。這可能與全年的年度報告數字不一致。
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本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。