Today (Feb 5) div increase and stock buy-back bumped stock price to all time high. I like the div increase but am always wary about companies not knowing what to do with cash other than buy back stock, especially at these prices. How about more R & D and strategic acquisitions for growth?
"but am always wary about companies not knowing what to do with cash other than buy back stock, especially at these prices"
With the current anti-business administration, buying back stock is the most intelligent way to spend the money. Under pro-business presidents, with business friendly tax policies and a good economy, the best thing is spending money on expansion. You might consider the buy backs and dividend increases as stabilizing the company for weathering the economic storm, there is no other intelligent alternative until we get an intelligent man in the White House.