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Finding "forever" stocks isn't easy. Corporations that can thrive and pay dividends for long periods are rare, but they do exist. Such companies tend to have several qualities, including competitive advantages and leadership in industries that are likely to continue growing.

Let's consider two stocks that investors can buy and hold for good: Apple (NASDAQ: AAPL) and Abbott Laboratories (NYSE: ABT). Though neither has been popular on Wall Street lately, both have much to offer long-term, income-seeking investors.

1. Apple

Apple is facing multiple issues, including slowing iPhone sales in China and an antitrust lawsuit from the U.S. Department of Justice alleging that it holds a monopoly in the smartphone market. The company's revenue growth is likely to be slow for the next few quarters, while its legal challenges add some uncertainty to its prospects. However, Apple has long known that it cannot forever rely on the iPhone to drive solid top-line growth.

That's why the company worked tirelessly to create a robust ecosystem of users to whom it can offer all kinds of services. Apple has an installed base of 2.2 billion devices and growing -- very few companies anywhere in the world have an ecosystem this large, and many would pay a fortune for it. That points to one of Apple's greatest strengths: Its brand name is a powerful moat. Apple's customers are among the most loyal in the smartphone market.

Though the company's services unit is still relatively small in terms of revenue -- at least compared to iPhone sales -- there is a long runway for growth for several of the perks it offers, from streaming to fintech options such as Apple Pay. Apple is also working on artificial intelligence (AI), although it has lagged its similarly sized tech peers in this fast-growing space. But the company has never prioritized being first to market.

Apple has historically been incredibly successful by adding its own spin to existing technologies and, in some cases, had been around a while before the company got involved. It's hard to ignore the company's innovative track record or its history of excellent financial results.

But what about the Justice Department's lawsuit? Though this could drag on for years, it's extremely unlikely that Apple will be broken up into several companies, in my view. At worst, Apple will incur a fine or settle things out of court. Investors shouldn't worry too much about this lawsuit, although it is worth monitoring.

What about the dividend? Apple has increased its payouts by 104% in the past decade. It currently offers a yield of 0.58%, and its cash payout ratio is just 14%. Though Apple's yield is lower than the S&P 500's average of 1.35%, the company's consistent revenue and earnings, strong innovative potential, and ability to generate cash flow make it a strong dividend stock to buy and hold for good.

2. Abbott Laboratories

Abbott Laboratories is a leading medical device specialist. The company's revenue growth has been pretty slow lately, which partly explains the stock lagging the market.

In the first quarter, Abbott's sales of $10 billion grew by just 2.2%. However, the company is facing challenging comparisons. Abbott Laboratories was a leader in the COVID-19 diagnostics market. With much lower demand for these products, comparable sales are dropping. Abbott's revenue in the period increased by 10.8%, excluding its coronavirus-related sales.

Abbott Laboratories has a long list of medical devices under its belt. The company has a strong reputation as a leader in its field. It also has deep footprints in the healthcare industry and the expertise and experience required to navigate this incredibly regulated market. These are important advantages, even before considering the many patents it holds that protect its innovative products from competition, at least for a while. The healthcare sector will continue growing, especially with the world's aging population.

Abbott Laboratories offers many essential products. Some of its better-known devices still have massive room to grow. That's the case with the FreeStyle Libre, a continuous glucose monitoring (CGM) franchise. CGM devices are a game changer for diabetes patients relying on blood glucose meters (BGMs) to track their sugar levels. CGMs do so automatically and continuously throughout the day, while BGMs are manually operated and only measure blood glucose at a particular point.

Yet just 1% of the more than half a billion adults worldwide with diabetes use CGM technology -- a clear growth opportunity for Abbott Laboratories, one of the two leaders in this field. The company has many other exciting products. Abbott has been able to develop new products steadily, which has helped it generate substantial revenue and profits.

The company should continue doing so for many more years.

Lastly, Abbott Laboratories has increased its dividends for 52 consecutive years, making it a Dividend King. The company's yield tops 2.04%. Although Abbott Laboratories' cash payout ratio of 70% seems a bit high, the company's track record and solid underlying business make it unlikely that it will slash or suspend its dividends. Income seekers can safely hold this stock for good.

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Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Abbott Laboratories and Apple. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.