Eric Schmidt, the executive chairman of Google Inc. (Nasdaq: GOOG), sold 50,000 shares of the company worth around $34.2 million, according to documents filed Wednesday with the U.S. Securities and Exchange Commission.

Schmidt sold the shares with an average price between $676.87 and $688.27. Mountain View, Calif.-based Google's shares closed at $688.01 on Monday. The latest sales were recorded a day after Schmidt sold 103,193 shares worth around $69.3 million, bringing his two-day total to153,193 shares and $103.5 million.

In February, Schmidt filed a plan with the SEC to sell a total of 2.4 million shares of Google's Class A stock for around $1.45 billion. Before this year's sales, Schmidt owned around 9.1 million Class A and Class B shares, or 2.8 percent of Google's stock.

The company's shares fell $6.52, about 1 percent, to $681.49 in Thursday afternoon trading.

Matthew Livingston contributed research.

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