Most investors don't keep tabs on their companies' fundamental values. That's a mistake. If you take the time to read past the headlines and crack a filing now and then, you're in a much better position to spot potential trouble early. Better yet, you'll improve your odds of finding the underappreciated home run stocks that provide the market's best returns.

We can help you keep tabs on your companies with, our free, personalized stock-tracking service. Here are three dividend stocks for your watchlist.

1. InterDigital (Nasdaq: IDCC)
Similar to Qualcomm (Nasdaq: QCOM), InterDigital holds patents on key wireless technology. As the recent $4.5 billion sale of Nortel's wireless patents shows, these assets are definitely valuable. InterDigital has been raking in the dough from its wireless patents and is working on further enhancements that should lead to more growth for years. It's also currently sitting on $11.60 per share of cash and no debt. Shares have risen the past few weeks but still trade for a low, cash-adjusted P/E of just under 12. While you're waiting for the market to revalue the stock, the company pays a $0.40 dividend for a yield of 0.9%. Not much, but it's still something to tide you over while you wait. Definitely one to watch.

2. CAPS' Weekly Top Stock Idea: Microsoft (Nasdaq: MSFT)
Each week, I cull a top stock idea from the pitches on CAPS, The Motley Fool's 170,000-member free investing community. Microsoft, a pick from January, caught my eye, since its shares have fallen over the past six months. Microsoft is no longer a tech darling, but it's still dominant in its markets, generates loads of cash, has a rock-solid balance sheet, and pays a 2.5% dividend while you wait. For all this, you have to pay only 10 times earnings, compared with Apple's (Nasdaq: AAPL) 17 P/E or Google's 21 P/E -- and neither of those stocks pays a dividend. See the pitch selected for CAPS' weekly top stock idea. If you want to follow my weekly picks, you can subscribe to the series' RSS feed or follow it on Twitter.

3. Cisco Systems (Nasdaq: CSCO)
Cisco, like competitors Juniper Networks (Nasdaq: JNPR) and Riverbed Technology (Nasdaq: RVBD), is a networking company selling products that allow servers, computers, and other devices to connect to each other, using the Internet. Unlike its competitors, and similar to Microsoft, Cisco is dominant and cheap any way you look at it. 

Cisco trades for a P/E of 12 and a P/FCF of 9.3, and has a rock-solid balance sheet, with net cash of just over $25 billion, or 30% of its market cap. Some dismiss its cash hoard, since most of it is overseas, but even if it were all brought back and taxed at a 35% tax rate, the company would still have a net cash position of $10 billion. On top of all this, Cisco pays a 1.5% dividend and has plenty of room to expand it. Furthermore, if a tax holiday for repatriating cash were instituted, Cisco would be able to bring its cash over and pay a large special dividend. This stock is definitely one to watch.  

My Foolish bottom line
Consider these three stocks along with the 13 names in a free report from The Motley Fool's expert analysts, "13 High-Yielding Stocks to Buy Today." A senior retail analyst dubbed one of the picks as "the dividend play of a lifetime." Tens of thousands have requested access to this report, and today I invite you to download it at no cost to you. Get instant access to the names of these 13 high-yielders -- it's free.

Follow Dan Dzombak at his Twitter account, @DanDzombak, to check out his musings and see what articles he finds interesting.

The Motley Fool owns shares of Apple, Microsoft, Cisco, and Qualcomm and has created a bull call spread position on Cisco. Motley Fool newsletter services have recommended buying shares of Cisco, Riverbed Technology, Microsoft, InterDigital, and Apple, creating a diagonal call position in Microsoft, creating a bull call spread position in Apple, and shorting Juniper Networks. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insightsmakes us better investors. The Motley Fool has a disclosure policy.