We have measured the radial velocities of 540 G and K main sequence stars with a precision of 3−10 ms−1 using the Lick and Keck échelle spectrometers. We had detected 6 companions that have m sin i < 7 M
Jup. We announce here the discovery of a new planet around Gliese 876, found in our Doppler measurements from both Lick and Keck. This is the first planet found around an M dwarf, which indicates that planets occur around low-mass stars, in addition to solar-type stars. We combine our entire stellar sample with that of Mayor et al. to derive general properties of giant planets within a few AU of these stars. Less than 1% of G and K main sequence stars harbor brown dwarf companions with masses between 5 and 70 M
Jup. Including Gliese 876b, 8 companions exhibit m sin i < 5 M
Jup which constitute the best planet candidates to date. Apparently, 4% of stars have planetary companions within the range m sin i = 0.5 to 5 M
Jup. Planets are distinguished from brown dwarfs by the discontinuous jump in the mass function at 5 M
Jup. About 2/3 of the planets orbit within just 0.3 AU due in part to their favorable detectability, but also possibly due to a real “pile up” of planets near the star. Inward orbital migration after formation may explain this, but the mechanism to stop the migration remains unclear. Five of eight planets have orbital eccentricities greater than that of our Jupiter, e
Jup = 0.048, and tidal circularization may explain most of the circular orbits. Thus, eccentric orbits are common and may arise from gravitational interactions with other planets, stars, or the protoplanetary disk. The planet-bearing stars are systematically metal-rich, as is the Sun, compared to the solar neighborhood.