Pfizer (PFE) currently has a 6.1% dividend yield compared to AbbVie's (ABBV) 2.66%, but AbbVie looks like the safer long-term hold. Pfizer's payout ratio is up to 89%, while AbbVie's sits at 65%. AbbVie also has a stronger track record of hikes, growing its dividend over 330% since 2013 compared to Pfizer's 51% over the last decade. On the revenue side, AbbVie successfully replaced its lost Humira sales with new drugs Skyrizi and Rinvoq. Their Q2 sales were up 10.2%. Meanwhile, Pfizer is heading into a wave of patent expirations between 2026 and 2028, putting about $17 billion to $18 billion of annual revenue at risk just as their COVID revenues normalize. Both companies are making big acquisitions to grow their pipelines. Even though AbbVie carries more total debt at $62 billion versus Pfizer's $32.6 billion, Pfizer actually has a debt-to-equity ratio three times higher.