Yes, this is implemented and working from the GUI in 4.0.x
When you create a contact, you can choose the addressbook it will get stored into. If that addressbook is managed by a sync plugin, any contact you add to that addressbook will be upsynced to the remote sync provider, etc.
There is also a read-only “aggregates” addressbook, for display/selection use cases. Contacts which are either manually linked together by the user, or heuristically determined to be the same, are “aggregated” together (that is, a contact is created by the system in that “aggregates” addressbook, and details from all of the linked “constituent” contacts are stored in it). Further constituents can be added just by creating a new contact in another addressbook which either matches the heuristic (same name, etc) or which is manually linked to the others by the user. Note that only the data stored into that specific constituent will be upsynced to the associated sync provider / service, to avoid “leaking” data from one addressbook to another.
Note that what the OP requested (moving contact from one addressbook to another, or even explicitly creating copy of one constituent and storing to another addressbook) is currently not supported, but hopefully will be in the future.