Hispanic does
not usually include Portugal (or Brazil).
Hispanic is a term has etymological roots meaning related to Hispania, also known as the Iberian Peninsula (then a Roman province), which would include modern day Portugal. However, nowadays, in contemporary English, it's a term specifically related to the modern nation state of Spain and the Spanish-speaking world, which does not include Brazil, Portugal, or other states in South and Central America who do not speak Spanish (e.g. Suriname or French Guiana).
Latino/Latina (and the abominable gender-neutral/nonbinary term "Latinx" that has started to crop up despite it being utterly unpronounceable in Spanish) is a geographic term encompassing the nations in South and Central America. It
does include Brazil despite Brazil not being Hispanic.
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Broadly speaking, Hispanic is a linguistic category and Latino is a geographic one. Thus it's fair to say Gabi and Valeria are Hispanic names, because they're names that are most frequently associated with the Spanish-speaking world.
"Latin" as you describe is very rarely used. Latin is usually used to refer to as the official the language of Ancient Rome, or as an adjective, most commonly modifying America (Latin America) to refer to the region of the Americas where languages that derive from Latin are spoken (predominantly Spanish and Portuguese, but also French such as in French Guiana or Haiti). Usually, when you're referring to the collection of languages that derive from Latin (French, Portuguese, Spanish, Italian, Romanian, etc), you call them the Romance Languages (i.e. languages deriving from Ancient Rome).
