Cobalt thin films were deposited on GaAs, Si and Glass substrates by RF-magnetron sputtering. The structure was studied using atomic force microscopy, X-ray reflectivity and grazing incidence X-ray diffraction. Magnetic properties were determined with the magneto-optic Kerr effect. The deposited films have in-plane uniaxial anisotropy and after annealing the anisotropy reduces. The reduction in anisotropy may be due to release of stress and the remaining anisotropy after annealing may be due to shape anisotropy of the particulates