It’s not unusual for Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) to be the big topic of the day in the investing world. The giant is frequently making breakthroughs in tech, whether that be through its existing services or ventures in new areas. This week, though, Alphabet’s big story is in its earnings report. Indeed, the company is blowing away stockholders with its earnings figures. Even more exciting is the company’s stock split announcement. So, when is the Google stock split date, and what can one expect from such an event?
Google’s earnings report yesterday has people talking. Earnings per share blew expectations out of the water. Moreover, revenue crushed estimates, with Alphabet drawing in over $75 billion in 2021’s final quarter. The stellar numbers come as the company announces significant jumps in revenue across its advertising and cloud service arms. Of course, the meeting also came with the announcement that Alphabet would be undergoing a stock split.
Stock splits are not a new thing, and they’re certainly not new to Alphabet. The company has conducted multiple stock splits already, back in 2014 and more recently in 2019. For Alphabet, these splits present investors with more accessible GOOG and GOOGL stocks. Here are the details.
When Is the Google Stock Split Date? And What Does That Mean for Shares?
GOOG and GOOGL stocks have been in high demand for over two decades at this point. And of course, the values of these stocks have been pushed sky-high as a result. Stock splits are a great way to make stocks more affordable for investors, and that’s exactly what is driving Alphabet to conduct its splits.
As for the finer details, the Google stock split date is set for July 15, according to the company. In order to participate in the split, one must own GOOG or GOOGL stock on July 1. GOOG and GOOGL will be undergoing a huge 20-to-1 stock split with this upcoming event. This means for every one share of GOOG or GOOGL stock one owns, they will receive another 19 shares on July 15.
This split is meant to drastically reduce the price of both GOOG and GOOGL; right now, the two stocks trade at over $3,000 apiece. The 20-to-1 split will ultimately reduce share prices to a much more palatable $140.
GOOG and GOOGL represent the company’s Class C and Class A shares, respectively. However, the company is also set to split its Class B shares as well. Of course, as a privately traded stock, retail investors won’t have a chance to participate in that split.
As the news breaks, GOOG and GOOGL are flexing some sizable gains this morning. GOOG is up 8%, while GOOGL is up 6%.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.