Firstly, cards with the simple logo A.G.M. without the triangle. These cards have a number of connections with Italy. The example card is part of a series showing costumes of different regions of Italy. (This one is for the region of Rome, as shown by the presence of St Peters dome). Some cards show Italian soldiers in uniform.
Other cards have "Cartoline" as the main heading on the address side, though sometimes it appears at the side, and/or have text in Italian on the picture side. There are also cards with non-Italian subjects and the cards had a wide European circulation.
One possible publisher is A Guarneri in Milan (qv). However there is a complete range of Guarneri cards, including ones similar in date, which have the line "Ditta A GUARNERI - Milano" and no logo, so this seems an unlikely duplication.
Another possibility is that Italian cards with initials A, G and M in the logo may have been published by Dell'Anna and Gasparini, Milan (see under the degami logo) though I have no evidence for this.
The AGM-in-a-triangle cards could have the same or a different publisher.
The example card was posted in Italy, though these AGM cards seem to have circulated internationally, and include flower illustrations by Catherine Klein.
The above are undivided cards. (The "Dutch" scene was posted late enough for the sender to divide it himself). There are divided cards with the logo AGM as an angular monogram, these are probably a continuation of the simple A.G.M publisher as they include a series illustrating Italian uniforms and are posted in Italy - though the "déposé" raises some questions.
A.G.M. logo
A.G.M. Italian soldiers
A.G.M. Dutch scene
AGM in triangle logo
AGM angular logo
