<PAGE> OMB Number 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response 0.5
FORM 4
/ / Check this box if no longer
subject to Section 16. Form 4 or
Form 5 obligations may continue.
See Instruction 1(b).
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of
1934, Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
1. Name and Address of Reporting Person
Palo Alto Investors, 470 University Avenue, Palo Alto, CA 94301
(Last) (First) (Middle), (Street), (City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol: Geerlings & Wade, Inc.
(GEER)
3. IRS or Social Security Number of Reporting Person (Voluntary)
________
4. Statement for Month/Year April 2000
5. If Amendment, Date of Original (Month/Year) ___________
6. Relationship of reporting person to issuer
(Check all applicable)
____ Director X 10% Owner
____ Officer (give ____ Other (specify
title below) below)
______________________
7. Individual or Joint/Group Filing (check applicable line)
____ Form filed by One Reporting Person
X Form filed by More than One Reporting Person -- See Note (1).
SEC 1474 (7-96)
Page 1 of 5
<PAGE>
FORM 4 (continued) Page 2 of 5 Pages
Table I - Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
1. Title of Security (Instr. 3) Common Stock
2. Transaction Date (Month/Day/Year) 4/12/00
3. Transaction Code (Instr. 8)
Code: P
4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
Amount 3,000 -- See Note (2). (A) or (D) A Price $4.125
5. Amount of Securities Beneficially Owned at End of Month
(Inst. 3 and 4) 478,800 -- See Notes (2) and (3).
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) I
7. Nature of Indirect Beneficial Ownership (Inst. 4) -- See Notes (2)
and (3).
___________________________________________________________________
<PAGE>
FORM 4 (continued) Page 3 of 5 Pages
Table II - Derivative Securities Acquired, Disposed of,
or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)
N/A___________________________
2. Conversion or Exercise Price of Derivative Security
_________________
3. Transaction Date (Month/Day/Year) ______________
4. Transaction Code (Instr. 8)
Code ______ V ______
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5) (A) _____________ (D) ______________
6. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable Expiration Date
____________________ ________________________
7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
Title __________________________ Amount or Number of Shares
________
8. Price of Derivative Security (Instr. 5) _______________
9. Number of derivative Securities Beneficially Owned at End of Month
(Instr. 4) _______________
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) __________________
11. Nature of Indirect Beneficial Ownership (Inst. 4)
_____________________________________________________________________
__________________________________________________________________________
_
<PAGE>
FORM 4 (continued) Page 4 of 5 Pages
Explanation of Responses:
(1) The reporting persons consist of (i) Palo Alto Investors, a
registered investment adviser and general partner of investment limited
partnerships; and (ii) William L. Edwards, controlling shareholder of Palo
Alto Investors. Each reporting person disclaims membership in a group
with any other person within the meaning of Rule 13d-5(b)(1) and Rule 16a-
1(a)(1) under the Securities Exchange Act of 1934, as amended.
(2) These securities are owned by an investment advisory account of Palo
Alto Investors or by an investment limited partnership of which Palo Alto
Investors is the general partner.
(3) Each reporting person has only a pro rata interest in the securities
with respect to which indirect beneficial ownership is reported and
disclaims beneficial ownerships in such securities except to the extent of
such reporting person's pecuniary interest.
PALO ALTO INVESTORS
By: /s/ William Leland Edwards 9/21/00
William Leland Edwards Date
President
** Intentional misstatements or omissions of facts constitute
Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C.
78ff(a).
Note: File three copies of this Form, one of which must be manually
signed. If space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection
of information contained in this form are not required to respond
unless the form displays a currently valid OMB Number. SEC 1474 (7-96)
<PAGE>
FORM 4 (continued) Page 5 of 5 Pages
JOINT FILER INFORMATION
Name: William Leland Edwards
470 University Avenue
Palo Alto, CA 94301
Designated Filer: Palo Alto Investors
Issuer & Ticker Symbol: Geerlings & Wade, Inc. (GEER)
Statement for Month/Year: April 2000
Signature: /s/ William Leland Edwards
William Leland Edwards
CSR\4325\002\1115667.01
