Fair company at a Fair Price

I spent a bit of today looking into Verizon at the request of a friend. It seems to be operating well as a money printer, FCF has been fairly consistent at around 15-20 billion a year, or about 10-15x earnings. It's got quite a sizeable amount of debt (~50B over its asset value), but I haven't looked too deeply into how that debt is structured. It seems to be growing in asset value while maintaining/paying down a decent bit of debt.

It also pays a 6-7% Dividend every year, which may be the root cause of its relative stagnation in share price.

Overall not a bad asset to own, I might pick some up at the $38.00 range if I have nothing better to do with my cash. I don't know the future of the company well enough to be confident that its a long term buy and hold, but it is a decent defensive stock trading at reasonable levels compared to other businesses in the market.