Google parent AlphabetAs part of technology company’s quarterly earnings report, Alphabet announced plans for a 20-1 stock split Tuesday. Alphabet stock rose by more than 7% after the news.

This move takes place one and a quarter years later AppleRecentest split its stockThree shares are given for every share owned by investors.

Alphabet plans to divide the shares into three classes: Class A, Class C, and Class D. the earnings statement. This change must be approved by shareholders. At the close of business July 1, each shareholder will be entitled to 19 more shares of the same stock class.

Google introduced a new class of shares called Class C in 2012. It has no voting rights. The shares included Class A shares that carry one vote each and Class B shares that are owned closely by the founders or early investors. They also carry 10 votes. This stock structure was maintained by the company. its 2015 rebrandAlphabet.

Google had a stock split of 2-for-1 in 2014 before it switched to Alphabet.

Google’s founders Larry Page (and Sergey Brin) own approximately 12% of Alphabet’s Class C Shares. They trade under “GOOG”, and don’t have any voting rights. These two men control 83% of Alphabet’s Class A shares. They do not trade in open markets.

Alphabet stock shares are now more expensive than ever, with prices hovering at around $2,750 at market close Tuesday. The price has increased by nearly two-fold since May 2020. This would allow investors to buy more shares, and not just fractional ones, of Alphabet stock.

Splitting would occur Tuesday night. The cost per share would be $2572.88 to $228.64. Existing shareholders would also receive 19 more shares for every one of their shares.

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