function toggle() {
  $(content).toggle();
  let visible= content.style.display != 'none'
  console.log('visible:', visible);
}

<script src="https://cdnjs.cloudflare.com/ajax/libs/jquery/3.3.1/jquery.min.js"></script>

<button onclick="toggle()">Show/hide</button>
<div id="content">ABC</div>

$(document).ready(function()
{
    $("#toggle").click(function()
    {
        $("#content").toggle();
    });

    $("#visiblity").click(function()
    {
       if( $('#content').is(':visible') )
       {
          alert("visible"); // Put your code for visibility
       }
       else
       {
          alert("hidden");
       }
    });
});

<script src="https://ajax.googleapis.com/ajax/libs/jquery/1.12.2/jquery.min.js"></script>

<p id="content">This is a Content</p>

<button id="toggle">Toggle Content Visibility</button>
<button id="visibility">Check Visibility</button>

$(function(){
  $("#showHide").click(function(){
    var btn = $(this);
    $("#content").toggle(function () {
      btn.text($(this).css("display") === 'none' ? "Show" : "Hide");
    });
   });
 });

<script src="https://ajax.googleapis.com/ajax/libs/jquery/2.1.1/jquery.min.js"></script>

<button id="showHide">Hide</button>
<div id="content">
  <h2>Some content</h2>
  <p>
  What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
  </p>
</div>