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flag Pfizer reported strong earnings, beating estimates, despite financial firms reducing their holdings in the company.

flag Financial advisory firms have reduced their Pfizer holdings in the first quarter, but the biopharmaceutical company reported strong earnings of $0.78 per share, beating estimates by $0.20, with sales up 10.3%. flag Pfizer forecasts 2.95 earnings per share for the year and announced it would cut costs by $7.2 billion by 2027. flag The company's stock has a "Moderate Buy" rating and pays a 7.0% annualized dividend.

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