Verizon (VZ) has a solid dividend yield but still the P/E Ratio scares me

Verizon Stock does look good in terms of dividend payments and dividend yield but where Verizon lacks is EPS and P/E Ratio which is alarmingly high in comparison with other investment opportunities. I would still pick Verizon over AT&T if given a choice of the two companies but they both have a great dividend yield so it would be a close call. I do not own any Verizon and do not plan on buying any within the next 72 hours.