Cybersecurity firm Palo Alto Networks ( PANW) will split its stock on September 14 on a 3-for-1 basis. Market leaders ( AMZN) and Alphabet ( GOOG) ( GOOGL) have already split their shares in the past few months.

Tesla is one of several tech and consumer companies that have set out to split their shares this year. 'Tesla could work with suppliers to incentivize the buildout of processing plants in the U.S., but this would likely take years before the company could secure enough battery materials for the majority of its vehicles to qualify,'' Goldstein says. The company's shares rallied in the past few weeks on news that an agreement was reached to pass the Inflation Reduction Act, which was signed into law by President Joe Biden on August 16. Tesla's stock will also keep a Morningstar Rating of 3 stars following the split, but at a slight premium of 14% as of August 23, which is still within a range that Goldstein views as fairly valued. The company's Morningstar Economic Moat Rating of narrow, which means it has a competitive advantage versus their rivals, will be unaffected by the split. After the split, the company's fair value estimate will be adjusted to about $255 per share to account for the increase in the company's outstanding share count, according to Goldstein. The split won't affect Morningstar's view on the company, which senior equity analyst Seth Goldstein values at $760 per share. However, in a stock split, the NYSE may defer declaring the stock 'ex-distribution' (sold without the additional stock) until after the payment date.The Tesla stock split took place after the market's close on August 24. The seller of the stock would receive it. Anyone who bought it on or after that Thursday would not be entitled to that dividend. As current practice allows two business days for delivery of stock in a regular transaction on the NYSE, the Exchange would declare the stock 'ex-dividend' as of the opening of the market on the preceding Thursday. For example, assume that a dividend is declared payable to stockholders of record on a given Friday. 'Ex' means 'without.' The buyer of an ex-dividend stock is not entitled to the next dividend payment. The 'ex' date is established by the New York Stock Exchange and applies only to trades on the New York Stock Exchange. Dividend Data: These figures reflect actual dividends they have not been adjusted for subsequent stock splits.

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