Also, keep in mind that portfolio managers Todd Combs and Ted Weschler are still new and those new positions of under $200 million $300 million are likely tied to them.

24/7 Wall St. has gone through line by line of each position to see which stocks have been bought and sold as new positions, as well as having added in whether or not the number of shares grew or shrank on each since the prior quarter. We had added some color in on some of the positions if applicable.

Be advised that the number of subsidiaries that this filing covers is 14 entities rather than 18 entities in the prior quarter. There is also a note in the 13F filing showing that the SEC has granted “Confidential Treatment” on some Berkshire stock holdings and that likely suggests that Buffett is still acquiring a position he does not want the public to know about yet. This filing does not signal the half-dozen or more European shares that Buffett said he bought so that remains an outstanding issue as well.

The value of the stock portfolio was $66,151,587,000 at the end of 2011 and this was listed as $75,300,250,000 at the end of March 2012.

American Express Co. (NYSE: AXP) was over 151.6 million shares, SAME AS last quarter.

Bank of New York Mellon Corp. (NYSE: BK) is now 5.6 million shares, HIGHER THAN the 1,793,915 shares last quarter.

CVS Caremark Corporation (NYSE: CVS) is the SAME SIZE at 7.106 million shares after having been a new holding in a recent quarter and having been raised one quarter ago.

Coca Cola Co. (NYSE: KO) was right at 200 million shares, SAME AS BEFORE.

ConocoPhillips (NYSE: COP) is roughly 29.1 million shares, roughly the SAME AS BEFORE but it is still lower than previous quarters in past reports.

Costco Wholesale (NASDAQ: COST) 4,333,363 Shares, SAME AS last quarter after having lowered it before.

Da Vita Inc. (NYSE: DVA) is now 6 million shares worth $541 million and that LARGER THAN BEFORE after having been a new position of 2.684 million shares.

DirecTV (NASDAQ: DTV) is a LARGER POSITION listed at 22.999 million worth over $1.13 billion. This one had been 20.348 million shares worth $870 million one quarter earlier and it had been a new position just two quarters ago at 4.249 million shares.

Liberty Media Corporation (NASDAQ: LMCA) is a NEW POSITION of 1.7 million shares worth some $132.7 million.
M&T Bank Corporation (NYSE: MTB) is 5.38+ million shares, SAME AS last quarter.
Mastercard Inc. (NYSE: MA) was 405,000 shares, the SAME AS last quarter and up from the quarter before that.
Moody’s Corp. (NYSE: MCO) was 28.4 million; SAME AS last quarter but way down from prior quarters and years.
Procter & Gamble (NYSE: PG) was 76.7 million shares, SAME AS last quarter but lower than the 96.3 million shares in prior quarters.
Sanofi-Aventis (NYSE: SNY) was 4.06 million shares; SAME AS before.
Torchmark Corp. (NYSE: TMK) was more than 4.2 million, SAME AS last quarter after having been raised in a prior quarter.
US Bancorp (NYSE: USB) was roughly 69 million shares; SAME AS before.
USG Corp. (NYSE: USG) was 17.072 million shares; SAME AS before.
United Parcel Service (NYSE: UPS) was 1.429 million shares; SAME AS before.
Verisk Analytics, Inc. (NASDAQ: VRSK) was already a LOWER POSITION at 3.445 million shares after being recently added as a new position and then grown.
Visa Inc. (NYSE: V) is a LARGER POSITION of 2.865 million shares worth $291 million; was 2.291 million shares previously.
Wal-Mart Stores Inc. (NYSE: WMT) was just over 39 million shares; SAME AS before after having been raised in 2010.
Washington Post (NYSE: WPO) was over 1.72 million shares; SAME AS before.
Wells Fargo & Co. (NYSE: WFC) was a LARGER POSITION AGAIN at more than 383 million shares.

PAGE ONE…BUFFETT HOLDINGS ‘A to K’

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JON C. OGG

M&T Bank Corporation (NYSE: MTB) is 5.38+ million shares, UP ONLY A TAD from the 5.363 million last quarter but this one had been cut in prior quarters.
Mastercard Inc. (NYSE: MA) was 405,000 shares valued at $128.45 million.  The position is the SAME AS last quarter but still almost double from the quarter before.
Moody’s Corp. (NYSE: MCO) was 28.4 million; SAME AS last quarter but way down from prior quarters and years.
Procter & Gamble (NYSE: PG) was 76.7 million shares and listed as THE SAME as last quarter but lower than the 96.3 million shares in prior quarters.
Sanofi-Aventis (NYSE: SNY) was 4.06 million shares; SAME AS before.
Torchmark Corp. (NYSE: TMK) was more than 4.2 million, a LARGER POSITION than the 2.82 million shares last quarter.
US Bancorp (NYSE: USB) was roughly 69 million shares; SAME AS before.
USG Corp. (NYSE: USG) was 17.072 million shares; SAME AS before.
United Parcel Service (NYSE: UPS) was 1.429 million shares; SAME AS before.
Verisk Analytics, Inc. (NASDAQ: VRSK) was ALMOST DOUBLE in shares at 4.202 million worth $146.1 million versus the 2,101,125 shares a quarter before when it had been started as a new position.
Visa Inc. (NYSE: V) is a NEW POSITION of 2.291 million shares worth $96.44 million.
Wal-Mart Stores Inc. (NYSE: WMT) was just over 39 million shares; SAME AS before after having been raised in 2010.
Washington Post (NYSE: WPO) was over 1.72 million shares; SAME AS before and Buffett kept his word so far about holding the Washington Post shares despite stepping down from its board.
Wells Fargo & Co. (NYSE: WFC) over 361 million shares a HIGHER POSITION than the 352+ million last quarter.

PAGE ONE…BUFFETT HOLDINGS ‘A to K’

As noted earlier… today’s holding disclosure has missing data as Berkshire Hathaway was given permission and likely still does not include the full holdings: Confidential information has been omitted from the Form 13F and filed separately with the Commission.

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Mastercard Inc. (NYSE: MA) was 405,000 shares, ALMOST DOUBLE from the 216,000 shares last quarter as a prior new position.  Now valued at $122 million.
M&T Bank Corporation (NYSE: MTB) is 5.363 million, SAME AS before but had been cut in prior quarters.
Moody’s Corp. (NYSE: MCO) was 28.4 million; SAME AS last quarter but this is down from prior reports as Moody’s is slowly getting cut.
Procter & Gamble (NYSE: PG) was 76.7 million shares; SAME AS last quarter but lower than the 96.3 million shares in prior quarters.
Sanofi-Aventis (NYSE: SNY) was 4.06 million shares; SAME AS before.
Torchmark Corp. (NYSE: TMK) was 2.82 million shares; SAME AS before.
US Bancorp (NYSE: USB) was roughly 69 million shares; SAME AS before.
USG Corp. (NYSE: USG) was 17.072 million shares; SAME AS before.
United Parcel Service (NYSE: UPS) was 1.429 million shares; SAME AS before.
Verisk Analytics, Inc. (NASDAQ: VRSK) was 2,101,125 shares, a NEW POSITION listed as $72.7 million as of June 30.
Wal-Mart Stores Inc. (NYSE: WMT) was just over 39 million shares; SAME AS before after having been raised in 2010.
Washington Post (NYSE: WPO) was over 1.72 million shares; SAME AS before and Buffett kept his word so far about holding the Washington Post shares despite stepping down from its board.
Wells Fargo & Co. (NYSE: WFC) was over 368.6 million; this one GREW AGAIN from the 358.9 million shares at March 31, 2011; was listed as over 342 Million shares one quarter earlier and over 336.4 million two quarters before that.

PAGE ONE…BUFFETT HOLDINGS ‘A to L’

As noted earlier… today’s holding disclosure has missing data as Berkshire Hathaway was given permission and likely still does not include the full holdings: Confidential information has been omitted from the Form 13F and filed separately with the Commission.  

Wesco Financial Corp. (NYSE: WSC) was not listed but that is because it was acquired by Berkshire.

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JON C. OGG

After running a screen on FinViz, we identified some of the “premium” banks close to or above book value as being M&T Bank Corporation (NYSE: MTB), New York Community Bancorp Inc. (NYSE: NYB), PNC Financial Services Group Inc. (NYSE: PNC), State Street Corporation (NYSE: STT), TCF Financial Corporation (NYSE: TCB), U.S. Bancorp (NYSE: USB), and Wells Fargo & Company (NYSE: WFC).

Admittedly, there is often a reason and some of these are not quite apples-to-apples comparisons.  Still, the current trend is that book value is now a ceiling rather than a floor.  Value investing just became very convoluted.  We screened out other issues such as brief descriptions, prices and trading ranges, market capitalization rates, and added in other color if applicable.  We also looked at Finviz for price-to-book ratios and confirmed data in press releases from each bank if available.

M&T Bank Corporation (NYSE: MTB) is the holding company for M&T Bank, offering commercial and retail banking services in New York, Pennsylvania, Maryland, Delaware, New Jersey, Virginia, West Virginia, and the District of Columbia.  The market is capitalization is more than $10 billion with a share price of $84.67 and a 52-week range of $72.03 to $95.00. Thomson Reuters has a consensus price target of $95.21.  Finviz currently shows a price-to-book ratio of 1.16, but that has not been confirmed in the most recent quarterly report.  The common equity book value per share at the end of 2010 was $63.54.

New York Community Bancorp Inc. (NYSE: NYB) is the holding company for New York Community Bank and New York Commercial Bank, which offer banking products and services in New York, New Jersey, Ohio, Florida, and Arizona.  Its market capitalization is about $6.5 billion with a share price of $14.85 and a 52-week range of $14.40 to $19.33.  Thomson Reuters has a consensus price target of $18.50 and Finviz currently shows a price-to-book ratio of just under 1.2.  The latest earnings release showed that book value per share declined $0.02 to $12.67 per share.

PNC Financial Services Group Inc. (NYSE: PNC) is the diversified bank and financial services company with operations in Pennsylvania, Ohio, New Jersey, Michigan, Maryland, Illinois, Indiana, Kentucky, Florida, Missouri, Virginia, Delaware, Washington, D.C., and Wisconsin.  It has some 2,446 branches.  Its market capitalization rate is $29.4 billion and the drop of 1.6% today has its shares trading at $55.90 versus a 52-week range of $49.43 to $65.19.  Thomson Reuters has a consensus price target of about $71.00 on PNC and Finviz currently shows a price-to-book ratio of 0.96.  PNC’s latest book value in its press release for earnings showed that Book value per common share was $58.01.

State Street Corporation (NYSE: STT) is a different sort of bank because it is a custodial bank per its most frequently recognized purpose.  The market cap is $21.5 billion after a 2.4% drop to $42.76 and its 52-week range is $34.37 to $50.26. Finviz currently shows a price-to-book ratio of 1.15.  Thomson Reuters has a consensus price target of almost $55.00 on State Street.

TCF Financial Corporation (NYSE: TCB) is the holding company for TCF National Bank with over 440 branch offices spread out in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona, Indiana, and 1 branch in South Dakota.  Its market capitalization is $2.03 billion after a 2.5% drop to $12.91 and its 52-week trading range is $12.83 to $17.37.  Thomson Reuters still has a consensus price target of $16.86 at this time and that 52-week low was hit today as well. Finviz currently shows a price-to-book ratio of just over 1.2.  Its latest book value with earnings in April was listed as $10.74 per share.

U.S. Bancorp (NYSE: USB) is the second largest of the “above book value banks” in market cap at $47 billion after a 1.4% drop to $24.39.  Thomson Reuters still has a consensus price target of about $30.38 and its 52-week trading range is $20.44 to $28.94.  Generally speaking, it is considered a higher-end bank and it operates a network of approximately 3,000 bank offices.  Finviz currently shows a price-to-book ratio of 1.56, but the latest press release only shows a book value of $14.83 per share..

Wells Fargo & Company (NYSE: WFC) is a bit of a conundrum now as its market cap is still $140 billion after a 2.1% drop to $26.62.  Its 52-week trading range is $23.02 to $34.25 and the most recent earnings release has a book value of $23.18 per share.  Thomson Reuters still has a consensus price target of about $36.00 on Wells Fargo.  The bank has literally about 9,000 branches all over America.  Finviz currently shows a price-to-book ratio of 1.08.

The first thing to consider is that these book value are all going to change in the coming days and over the next week or two.  Another thing to consider is that many banks will just not trade in tandem.  State Street is not Bank of America, U.S. Bancorp is not Citi.  Still, TCB is not exactly J.P.Morgan by a long shot.  Another consideration is that some hidden values may be lurking in some of the premium banks.  Lastly, logic would dictate that if reports are coming about banks which trade above book value when peer leadership banks are under book value might lead us to make a simple reminder: perhaps that is a bottom.

All things considered, we wanted to identify those banks which screen out in the premium category.  Citi went out at about 0.8-times book value and J.P. Morgan went out at about 0.9-times book value. As a last reminder on book value, asset sales, charge-offs, write-offs, writedowns, quarterly losses, settlements, and a few dozen other items can actually help to lower stated book value per share even if these banks post earnings from normal operations.  Also, if things get worse on the debt ceiling debate with politicians in D.C. and if Europe continues its path to the bonfire you just have to assume that stated book values will only be items that bankers have to answer questions about how the numbers were derived.

Warren Buffett was quoted back in the 1990s saying, “Your goal as an investor should simply be to purchase, at a rational price, a part interest in an easily-understandable business whose earnings are virtually certain to be materially higher five, ten and twenty years from now.”  We don’t go along with the Buffett model of “buy and hold forever” any longer, but you get the idea.  Maybe he will put his money where is mouth is and show that he bought more of Wells Fargo C0. (NYSE: WFC), undeniably Mr. Buffett’s favorite bank stock.

JON C. OGG

Alcatel-Lucent (NYSE: ALU) Cut to Hold at Deutsche Bank.
American Water Works Co. (NYSE: AWK) Reiterated Buy at Gabelli.
Aqua America Inc (NYSE: WTR) Reiterated Buy at Gabelli.
China Unicom (NYSE: CHU) Cut to Neutral at Credit Suisse.
City National Corporation (NYSE: CYN) Raised to Neutral at BofA/ML.
Commerce Bancshares Inc. (NASDAQ: CBSH) Cut to Underperform at BofA/ML.
Federated Investors, Inc. (NYSE: FII) Cut to Underperform as Bear of the Day at Zacks.
HollyFrontier Corporation (NYSE: HFC) Cut to Neutral at BofA/ML; Started as Outperform at Oppenheimer.
M&T Bank Corp. (NYSE: MTB) Raised to Buy at BofA/ML.
Microchip Technology Inc. (NASDAQ: MCHP) Maintained Buy but cut target to $40 at Gleacher & Co.
Pegasystems Inc. (NASDAQ: PEGA) Cut to Hold at Canaccord Genuity.
SeaCube Container Leasing Limited (NYSE: BOX) reiterated Buy as Value at Zacks.
Sealed Air Corporation (NYSE: SEE) Raised to Overweight at Barclays.
Suncor Energy Inc. (NYSE: SU) named as Bull of the Day at Zacks.
Tesoro Corporation (NYSE: TSO) Cut to Underperform at BofA/ML.

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JON C. OGG

Mastercard Inc. (NYSE: MA) is a brand new position, but a small one at 216,000 shares worth about $54.3 million as of March 31.
M&T Bank Corp. (NYSE: MTB) is 5.363 million, SAME AS BEFORE after having been previously cut.
Moody’s Corp. (NYSE: MCO) is the same 28.4 million as last quarter, but this is down from prior reports as Moody’s is slowly getting cut.
Procter & Gamble (NYSE: PG) had been lowered in a prior period but that has been flat now for two quarters; position is now 76.7 million shares versus 96.3 million shares in prior quarters.
Sanofi-Aventis (NYSE: SNY) is SAME AS BEFORE at just over 4,06 million shares.
Torchmark Corp. (NYSE: TMK) is SAME AS BEFORE at roughly 2.82 million shares.
US Bancorp (NYSE: USB) is the SAME AS BEFORE at roughly 69 million shares.
USG Corp. (NYSE: USG) SAME AS BEFORE at 17.072 million shares.
United Parcel Service (NYSE: UPS) SAME AS BEFORE at 1.429 million shares.
Wal-Mart Stores Inc. (NYSE: WMT) SAME AS BEFORE at just over 39 million shares after having been raised before in 2010.
Washington Post (NYSE: WPO) SAME AS BEFORE at over 1.72 million shares.  Buffett kept his word so far about holding the Washington Post shares despite stepping down from its board.
Wells Fargo & Co. (NYSE: WFC) grew yet again, but we already knew this after the earnings report.  This was listed as more than 358.9 million shares at March 31, 2011.  Wells Fargo was listed as over 342 Million shares one quarter earlier and over 336.4 million two quarters ago. 
Wesco Financial Corp. (NYSE: WSC) is the same at about 5.7 million shares but it doesn’t really matter as Buffett and Berkshire are trying to acquire the rest of the company.

PAGE ONE…BUFFETT HOLDINGS ‘A to L’

Again, today’s holding disclosure feels like a lot is missing as Berkshire Hathaway was given permission to not disclose certain positions (most likely Combs’s new picks).  The public equities list are $53.6 billion (plus change) versus the $61.8 billion noted above.  The Mastercard Inc. (NYSE: MA) position is the only new position that we are allowed to see and it is too small to be a significant position.

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JON C. OGG

What is interesting is that you are not currently hamstrung at all in finding real banks with real dividend yields.  After all, what if the government delays its decision?  We recently ran a feature showing the highest yielding banks of all regions and all segments which had a 3.0% yield or higher, a market cap of $1 billion, and then which had earnings power to assure that these steady payout can continue.  If we carve these out by region from our screen of more than fifteen winners, these are five of the top payers by region are M&T Bank Corp. (NYSE: MTB), New York Community Bancorp Inc (NYSE: NYB), Cullen/Frost Bankers, Inc. (NYSE: CFR), Bank of Hawaii Corporation (NYSE: BOH), and Trustmark Corporation (NASDAQ: TRMK).

M&T Bank Corp. (NYSE: MTB) is based in Buffalo, NY and is the holding company for M&T Bank.  As of a year ago it had 793 banking offices in New York, Pennsylvania, Maryland, Delaware, New Jersey, Virginia, West Virginia, and the District of Columbia, as well as a branch in George Town, Cayman Islands. The company is in the process of acquiring another.

• Share price of $87.58 compares to 52-week range of $72.03 to $96.15
• Market Cap is $10.5 billion
• Thomson Reuters sees 2011 at $6.12 EPS and $3.77 billion in revenues
• Dividend of $2.80/year generates a yield of 3.2%
• Dividend history during recession was unchanged

New York Community Bancorp Inc (NYSE: NYB) is the bank holding company for York Community Bank and New York Commercial Bank and as of a year ago it had 241 community bank branches and 35 commercial bank branches throughout New York.

• Share price of $17.60 compares to 52-week range of $14.40 to $19.33
• Market Cap is $7.7 billion
• Thomson Reuters sees 2011 at $1.33 EPS and $1.25 billion in revenues
• Dividend of $1.00 per year generates a yield of 5.6%
• Dividend history during recession was unchanged at $0.25 per quarter since 2004.

Cullen/Frost Bankers, Inc. (NYSE: CFR) operates as Frost Bank and as of a year ago it had 110 financial centers in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Rio Grande Valley, and San Antonio regions of Texas.

• Share price of $57.60 compares to 52-week range of $50.04 to $62.59
• Market Cap is $3.5 billion
• Thomson Reuters sees 2011 at $3.52 EPS and $886.4 million in revenues
• Dividend of $1.80/year generates a yield of 3.1%
• Dividend history during recession was stable and was raised throughout the recession.

Bank of Hawaii Corporation (NYSE: BOH) was surprising to see considering the Hawaiian economy of the recession. It is the holding company for Bank of Hawaii and as of a year ago it operated 71 Hawaii branch locations and 12 branches in the Pacific Islands.

• Share price of $46.60 compares to 52-week range of $42.59 to $54.10
• Market Cap is $2.25 billion
• Thomson Reuters sees 2011 at $2.96 EPS and $585.56 million in revenues
• Dividend of $1.80/year generates a yield of 3.8%
• Dividend history during recession was stable and raised during 2008

Trustmark Corporation (NASDAQ: TRMK) is the bank holding company for Trustmark National Bank in Florida, Mississippi, Tennessee, and Texas and as of a year ago it operated 140 full-service branches and 17 limited-service branches.

• Share price of $22.27 compares to 52-week range of $18.83 to $26.88
• Market Cap is $1.42 billion
• Thomson Reuters sees 2011 at $1.56 EPS and $511.21 million in revenues
• Dividend of $0.92/year generates a yield of about 4.0%
• Dividend history during recession was stable and has been static since 2007

You can bookmark our site for the DAILY DIVIDEND AT 11:00 AM EST each day, although it technically at 11:01 AM EST.

JON C. OGG

We wanted to take a look at “all those other banks” out there that might have avoided the trouble that the big money center banks got into.  The screen pointed to M&T Bank Corp. (NYSE: MTB), Valley National Bancorp (NYSE: VLY), New York Community Bancorp Inc (NYSE: NYB), Hudson City Bancorp, Inc. (NASDAQ: HCBK), People’s United Financial Inc. (NASDAQ: PBCT), First Niagara Financial Group (NASDAQ: FNFG), Astoria Financial Corporation (NYSE: AF), Northwest Bancshares, Inc. (NASDAQ: NWBI), Cullen/Frost Bankers, Inc. (NYSE: CFR), United Bankshares Inc. (NASDAQ: UBSI), FirstMerit Corporation (NASDAQ: FMER), Park National Corp. (NYSE: PRK), Trustmark Corporation (NASDAQ: TRMK), Hancock Holding Co. (NASDAQ: HBHC), F.N.B. Corporation (NYSE: FNB) and Bank of Hawaii Corporation (NYSE: BOH).  In Canada there is Royal Bank of Canada (NYSE: RY), The Bank Of Nova Scotia (NYSE: BNS), Bank of Montreal (NYSE: BMO), and Canadian Imperial Bank of Commerce (NYSE: CM).It turns out that there are still many banks around the country that do pay higher dividends at above-market yields.

Our screen boiled down to a simple process.  We took a 3.0% Yield hurdle because that is what was implied as a future yield by JPMorgan this week if you use forward earning projections.  To avoid the micro-regional risks and to avoid the “so small no one cares if they fail” we also made a market cap hurdle of $1.0 billion.  After this we took a look at forward earnings expectations and also looked in the past to see what happened to their common stock dividends during the Great Recession when bank failure risks were systematic.

M&T Bank Corp. (NYSE: MTB) is based in Buffalo, NY and is the holding company for M&T Bank.  As of a year ago it had 793 banking offices in New York, Pennsylvania, Maryland, Delaware, New Jersey, Virginia, West Virginia, and the District of Columbia, as well as a branch in George Town, Cayman Islands. The company is in the process of acquiring another.

• Share price of $89.85 compares to 52-week range of $72.03 to $96.15
• Market Cap is $10.76 billion
• Thomson Reuters sees 2011 at $6.12 EPS and $3.77 billion in revenues
• Dividend of $0.70/quarter generates a yield of 3.2%
• Dividend history during recession was unchanged

Valley National Bancorp (NYSE: VLY) is the bank holding company for Valley National Bank and it had 197 full-service banking branches a year ago located throughout New Jersey and New York.

• Share price of $13.51 compares to 52-week range of $12.33 to $16.19
• Market Cap is $2.2 billion
• Thomson Reuters sees 2011 at $0.84 EPS and $550.98 million in revenues
• Dividend of $0.18/quarter generates a yield of about 5.3%
• Dividend history during recession was not effectively interrupted at all and it continued to pay a 5% stock dividend.

New York Community Bancorp Inc (NYSE: NYB) is the bank holding company for York Community Bank and New York Commercial Bank and as of a year ago it had 241 community bank branches and 35 commercial bank branches throughout New York.

• Share price of $18.92 compares to 52-week range of $14.40 to $19.33
• Market Cap is $8.24 billion
• Thomson Reuters sees 2011 at $1.33 EPS and $1.25 billion in revenues
• Dividend of $0.25/quarter generates a yield of 5.4%
• Dividend history during recession was unchanged at $0.25 per quarter since 2004.

Hudson City Bancorp, Inc. (NASDAQ: HCBK) is the bank holding company for Hudson City Savings Bank and as of a year ago it had 95 branches located in 17 counties throughout the State of New Jersey.

• Share price of $11.40 compares to 52-week range of $10.80 to $14.75
• Market Cap is $5.6 billion
• Thomson Reuters sees 2011 at $0.77 EPS and $966.6 million in revenues
• Dividend of $0.15/quarter generates a yield of 5.3%
• Dividend history during recession was actually raised during 2009 when others were eliminating or cutting the dividend.  The dividend has been this rate since mid-2009.

Agrium Inc. (NYSE: AGU) Started as Neutral at Goldman Sachs.
Campbell Soup Co. (NYSE: CPB) Cut to Equal-Weight at Barclays Capital.
Dynegy Inc. (NYSE: DYN) Cut to Sell at S&P Equity Research (late Tuesday call).
Echelon Corporation (NASDAQ: ELON) Started as Outperform at Baird.
Fair Isaac Corp. (NYSE: FIC) Reiterated Sell at Argus.
Hormel Foods Corp. (NYSE: HRL) Cut to Sell at Soleil.
Itron Inc. (NASDAQ: ITRI) Raised to Neutral at Macquarie.
Las Vegas Sands Corp. (NYSE: LVS) Reiterated Buy and $58 Target at Argus.
Millicom International (NASDAQ: MICC) Started as Buy at Deutsche Bank.
M&T Bank Corp. (NYSE: MTB) Started as Market Perform at BMO.
OmniVision Technologies Inc. (NASDAQ: OVTI) Reiterated Buy and Raise Target to $36 at Gleacher & Co.
Potash Corp. of Saskatchewan (NYSE: POT) Started as Neutral at Goldman Sachs.
SAP AG (NYSE: SAP) Reiterated Buy at BofA/ML.
Shanda Interactive Entertainment (NASDAQ: SNDA) Cut to Sell at Roth Capital.
Synopsys Inc. (NASDAQ: SNPS) Raised to Overweight at JPMorgan.
Trina Solar Ltd. (NYSE: TSL) Reiterated Buy and $38 target at Auriga.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG