5 Best Internet-of-Things (IoT) Stocks to Buy

In this article, we discuss 5 best Internet-of-Things (IoT) stocks to buy now. If you want to read about some more IoT stocks, go directly to 12 Best Internet-of-Things (IoT) Stocks to Buy.

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 73

QUALCOMM Incorporated (NASDAQ:QCOM) is an American multinational corporation with its headquarters located in San Diego, California. It is incorporated in Delaware and is primarily involved in the development of semiconductors, software, and services associated with wireless technology. The company is recognized for its ownership of crucial patents that are instrumental in the 5G, 4G, CDMA2000, TD-SCDMA, and WCDMA mobile communication standards.

During fiscal Q3 2023, QUALCOMM Incorporated (NASDAQ:QCOM) reported an operating cash flow of more than $2.6 billion. By the end of the quarter, the company held over $6 billion in cash and cash equivalents. Additionally, QUALCOMM Incorporated (NASDAQ:QCOM) returned $893 million to its shareholders in the form of dividends. Notably, the company has consistently increased its dividends for the past 19 years. Presently, it provides a quarterly dividend of $0.80 per share, resulting in a dividend yield of 3.00% as of October 29.

By the end of this year’s June quarter, 73 out of the 910 hedge funds polled by Insider Monkey were the firm’s investors. QUALCOMM Incorporated (NASDAQ:QCOM)’s biggest investor in our database is Israel Englander’s Millennium Management as it owns $270 million worth of shares.