Apple just split its stock. Here's how shares have performed one year after its previous stock splits.

• Apple completed its fifth stock split on Monday, as investors received four shares for every one share held.
• The split quartered Apple's stock price, which went from about $500 last week to about $125 on Monday.
• Here's how shares of Apple performed one year after its previous stock splits, according to Ally Invest.
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Apple completed its fifth stock split in its history on Monday.

Investors received four shares for every one share held, resulting in its stock price being quartered — from about $500 last week to about $125 on Monday.

So how have shares of Apple performed after its previous stock splits? According to Ally Invest, quite well.

In the year after Apple's first 2-for-1 stock split, on June 16, 1987, shares returned 9.6%, outperforming the S&P 500's 9.9% decline during the same period, Ally Invest said in a blog post earlier this month.

Apple's second 2-for-1 stock, on June 21, 2000, was at the height of the dot-com bubble. One year after the split, shares were down 59.6%, underperforming the S&P 500's 16.4% decline during the same period.

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In the year after Apple's third 2-for-1 stock split, on February 28, 2005, shares returned 52.7%, outperforming the S&P 500's 6.4% return over the same period.

Apple's 7-for-1 stock split on June 9, 2014, was followed by a 36% return over the next year. Shares handily outperformed the S&P 500's 6.6% return over the same period.

While Apple has demonstrated generally strong returns following its stock splits over the years, not many companies have followed its path. According to Ally Invest, fewer S&P 500 companies are splitting their stocks now than in the 1990s when it was all the rage.

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Investors who owned one share of Apple before its first stock split in 1987 would own 224 shares today.

If Apple had never split its stock, shares would have been trading at $27,957.44 as of Friday's close.

Shares of Apple traded up 3%, to $128.47, on Monday.

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