I think you did the best possible thing Krystie, by taking the toy off him and moving onto the next activity (or toy) you are just distracting him and stimulating him with something new (and therefore giving him an opportunity to stop or change the behaviour)

This tends to 'work' for lack of a better word with Bailey. He throws toys at times, and I just either pick him up and move him to the other side of the playroom (or ignore it as sometimes he is looking for a reaction from me - I think he is trying to make me laugh LOL)

Keep telling him the behaviour you want from him though as I reckon even at this young age they understand WAY more than we give them credit for Cheeky little buggers hehehehe