The market was ripe with stock splits last year, with some of the world's biggest companies launching these operations -- from Google parent Alphabet to electric vehicle giant Tesla. Stock splits lower the price of each individual share by offering additional shares to current holders. This way, they don't decrease the overall market value of the company.

It's a win-win situation: A split makes buying the stock easier for a wider range of investors -- and it offers the company and current shareholders a new opportunity for share price growth. A stock split itself doesn't spur gains, so, alone, it isn't a reason to buy a particular stock. But it does suggest that company has been doing well as its share price rose to high levels in the past.

And that means it's a great idea to take a closer look at companies that have split their stock in recent times. Some could make good buys moving forward. In fact, one of last year's stock-split companies makes a particularly good buy right now. Let's find out more.

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Source Fool.com