No it isn’t. Those are called “dingbats” (really!) and are part of the roll stamp, designed to help line it up and assure an even imprint of the text. They can be found around older S&W caliber markings. How necessary they really were is unclear; other manufacturers never used them.
Absalom is correct. All the S&W revolvers from that era had them. On older S&W revolvers, a star stamped on the butt near the serial number indicates it went back to the factory to be reworked in some manner
welcome01 to the forums from the Wiregrass! You will see dingbats on older S&W guns around roll stamped text. Many roll stamps incorporate a "foot" that serves to anchor the stamp and prevent it from sliding along the metal surface being stamped. S&W just used dingbats to fancy up the feet on their stamps...and for decoration.