Well yes I agree lots of things can affect the share price, but performance and in particular earnings is the single most important factor within management's control.
And other 'levers' being discussed here like divi and buybacks require cash i.e. earnings.
Let's focus on what management can control. Like I said the rest is noise.
Regarding buybacks the primary objective is reducing shares on issue and thereby increasing earnings per share for investors. SP growth can often a by-product but it is never a guarantee simply because, as you noted, lots of outside factors affect SP.
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