I don't think a stock split is so far fetched.
In 1999 they split 2:1 when the shares were worth around 60.
In 2004 they split 3:2 when the shares were worth around $80.
And in 2006 they split 2:1 when the shares were at $108.
With the current share price at $100, a 2:1 split seems within the realm of possibililty. Whether or not they are buying back shares means nothing in relation to a stock split.