Yes and no, it is not the actual axle.
The axle is in the center of it is the axle and the nut holds the flange on the axle.

You have to remove the nut, then the brake drum/hub assembly with a puller.

Here's a link to some info with pics from another forum.
https://www.google.com/url?sa=i&...CBUQjhxqFwoTCLjg2-CW_4QDFQAAAAAdAAAAABAE

There's pics of a service manual stuff there.