Investors looking for rock-solid dividend stocks can hardly do better than turning to Dividend Kings. This refers to a group of corporations that have raised their payouts for at least 50 consecutive years, an impressive accomplishment. However, not all Dividend Kings are created equal. Take Abbott Laboratories (NYSE: ABT) and Johnson & Johnson (NYSE: JNJ). Both healthcare giants belong to that group, and they have moved in opposite directions this year: Johnson & Johnson has beaten broader equities, while Abbott Laboratories has been a market laggard. Which of them is a better buy today?

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Can Abbott Laboratories rebound?

Abbott has faced several challenges over the past couple of years. First, revenue and earnings growth haven't been strong, particularly in its diagnostics and nutrition segments. Second, the medical device specialist has faced some legal and regulatory headwinds. For instance, it has dealt with lawsuits claiming that its baby formula caused health issues in premature babies.

These have somewhat tarnished the company's public image. However, the healthcare leader is looking to turn things around. It can still count on its core medical device segment, particularly its diabetes care unit, which remains one of its main growth drivers. Abbott's FreeStyle Libre, a line of continuous glucose monitoring (CGM) systems that help patients with diabetes track their blood sugar levels, continues to perform well.

Also important, the company acquired Exact Sciences earlier this year in a cash transaction valued at $21 billion. This deal brings Cologuard, a leading non-invasive diagnostic test for colorectal cancer, under Abbott's umbrella. It will help the company tap into the large and growing cancer diagnostic market and boost sales within its diagnostic division. So, Abbott could bounce back, and in the meantime, its dividend program remains intact. It has increased its payouts for 54 consecutive years.

Johnson & Johnson is firing on all cylinders

Johnson & Johnson started the year having loss U.S. patent exclusivity for Stelara, an immunosuppressant, in 2025. The company has also been facing challenges due to government-led drug price negotiations, as several of its medicines have been targeted. However, Johnson & Johnson has performed well. Thanks to its vast lineup of medicines, Johnson & Johnson's revenue and earnings continue to grow at a good clip.