Institutional holdings are large, but not nearly that bad. Individuals own about ten million shares in their brokerage accounts, individuals who have a certificate have 3.5 million shares, and individuals who have their shares held at a bank custodian such as BNY Mellon or Northern Trust have another 5-10 million.

In addition, some of the institutionally held stock is in individual accounts managed for individuals.

The two largest holders at 6/30 - T. Rowe Price (41 million) and Goldman Sachs Asset Management (18 m) are bright folks.

This could be an excellent long ride.