The intention behind the ‘aqeeqah is to offer it as a sacrifice in order to draw close to Allah, may He be exalted, and in gratitude for the blessing of a child. However it is done after that, whether it is cooked and relatives come together to eat it, or its meat is distributed cooked or raw, or some of it is distributed cooked and some of it is distributed raw… There is nothing wrong with any of that.
Shaykh Ibn Baaz (may Allah have mercy on him) said:
Rather the ‘aqeeqah as prescribed in the Sunnah that is narrated in saheeh reports from the Messenger of Allah (blessings and peace of Allah be upon him) is that which is slaughtered on behalf of the newborn on the seventh day. That is two sheep for a male and one sheep for a female. The Prophet (blessings and peace of Allah be upon him) offered ‘aqeeqah on behalf of al-Hasan and al-Husayn (may Allah be pleased with them). The one who offers the ‘aqeeqah has the choice: if he wishes he may distribute the meat between relatives, friends and the poor; if he wishes he may cook it and invite whoever he wants of relatives, neighbours and the poor to come and eat.
End quote from Majmoo‘ al-Fataawa, 4/262
Shaykh Ibn ‘Uthaymeen (may Allah have mercy on him) said:
If he wants, he may call his relatives and friends to come together to eat. … And there is nothing wrong with cooking it and distributing this cooked meat, or distributing it raw. The matter is broad in scope.
End quote from ash-Sharh al-Mumti‘, 25/206
For more information please see the answer to question no. 8388
And Allah knows best.