The preparation of magnetic nanopillars from anodic alumina templates represents a cheap way to obtain extensive ordered arrays, and thus is very appealing for nanotechnology applications. In this paper we report the preparation of arrays of Co nanopillars with 120 nm height and varying diameter. The high anisotropy of Co offers an additional possibility to control their magnetic properties. The magnetic properties of arrays of Co nanopillars are studied both experimentally and by micromagnetic simulations. Experiment and modeling show crucial changes of hysteresis loops when the diameter is increased. Magnetic data are interpreted considering the change of crystalline structure as well as the influence of geometry. The micromagnetic simulations explain the measured magnetic properties by the role of magnetocrystalline anisotropy and the combined influence of the shape anisotropy and the interactions. They also show the change in the reversal mode with the increased diameter from vortex propagation to curling when the field is applied parallel to the nanopillar axis, and from coherent rotation to curling when it is applied perpendicular.