I also moved to Outlook 2016 some time ago, and at the same time, I needed to import all contacts from a VCF file. I looked at many tools on the net, but most of them were either paid or limited, or the formatting was getting spoiled after import. Then, I discovered
Softaken VCF to PST Converter, which seemed to be the best tool ever.
I converted my entire VCF file to PST using this tool and then opened it in Outlook. Everything was smooth-names, emails, mobile numbers, addresses, and even images came exactly as they were in the VCF. This tool is perfect for those who want to
import vCard contacts into Outlook.
You can convert single or bulk VCF files into a single PST file through it. I particularly appreciated the fact that it doesn't necessitate the installation of Outlook. And if you want to test it first, there is a demo version available.