Your answer did work, once I figured out to tap on the folder first to bring it to the forefront and then hold down on the bookmark and drag it. Thank you.

That's not working for me. When I hold down on one of the entries, it only allows the entire folder to be dragged, instead the entry I hold down on. I'm using a Samsung Galaxy S4 with Kitkat.

I accidentally grouped some of my Speed Dial entries into a folder. Is there a way to undo this and make them individual entries again?