I have even tried the following commands without success for rebooting.
[ OK ] Reached target Shutdown.
[ 389.539170] watchdog: watchdog0: watchdog did not stop!
[ 389.560409] systemd-shutdown[1]: Sending SIGTERM to remaining processes...
[ 389.585320] systemd-journald[117]: Received SIGTERM from PID 1 (systemd-shutdow).
[ 399.598695] systemd-shutdown[1]: Sending SIGKILL to remaining processes...
[ 399.636125] systemd-shutdown[1]: Sending SIGKILL to PID 122 (systemd-udevd).
[ 399.647143] systemd-shutdown[1]: Sending SIGKILL to PID 127 (systemd-udevd).
[ 399.655410] systemd-shutdown[1]: Sending SIGKILL to PID 128 (systemd-udevd).
[ 399.663584] systemd-shutdown[1]: Sending SIGKILL to PID 130 (systemd-udevd).
[ 399.671763] systemd-shutdown[1]: Sending SIGKILL to PID 134 (systemd-udevd).
[ 409.686819] systemd-shutdown[1]: Hardware watchdog 'OMAP Watchdog', version 0
[ 409.697237] systemd-shutdown[1]: Unmounting file systems.
[ 409.704930] systemd-shutdown[1]: Unmounting /sys/fs/fuse/connections.
[ 409.711741] systemd-shutdown[1]: Unmounting /sys/kernel/config.
[ 409.717903] systemd-shutdown[1]: Unmounting /sys/kernel/debug.
[ 409.723949] systemd-shutdown[1]: Unmounting /dev/mqueue.
[ 411.142933] EXT4-fs (mmcblk0p2): re-mounted. Opts: (null)
[ 411.157183] EXT4-fs (mmcblk0p2): re-mounted. Opts: (null)
[ 411.162750] EXT4-fs (mmcblk0p2): re-mounted. Opts: (null)
[ 411.168350] systemd-shutdown[1]: All filesystems unmounted.
[ 411.174044] systemd-shutdown[1]: Deactivating swaps.
[ 411.179741] systemd-shutdown[1]: All swaps deactivated.
[ 411.185131] systemd-shutdown[1]: Detaching loop devices.
[ 411.196827] systemd-shutdown[1]: All loop devices detached.
[ 411.202614] systemd-shutdown[1]: Detaching DM devices.
[ 411.209062] systemd-shutdown[1]: All DM devices detached.
[ 411.231330] systemd-shutdown[1]: Rebooting. <------ Hangs here and doesn't reboot
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Veera